Your interest rate momentum strategy was highly profitable for the last decade but had a massive drawdown recently. Looking at the time series of the 10-year Treasury yield, what statistical properties likely broke down? How would you redesign the model to detect such regime shifts in real-time?

你的 10 年期美债收益率动量策略在过去十年赚翻了，但最近却遭遇了史无前例的回撤。从时间序列的统计特性来看，你认为什么发生了改变？你会如何重新设计模型来实时捕捉这种结构性突变？