30-year Treasury price index down 60% since 2020, erasing nearly 20 years of gains

The 30Y US Treasury price return index dropped to ~107, matching its 2000 low. The index has fallen 60% from its 2020 peak, while US nominal GDP grew 63% over the same period. The 30Y yield rose 478 bps from its March 2020 low of 0.71%. The previous largest drawdown over 40 years was 35% during the 2008 Financial Crisis.