The latest on the Covid-19 epidemic indicates that opening local economies will result in more Covid-19 cases. Which will lead to more governors and mayors shutting down economies.
On this bleak news, the Dow fell over 700 points.
As Martha and the Vandellas warbled, “No where to run, no where to hide” for Treasuries. Since the US Treasury yields at 3 years and less maturity are at only 21 basis points and lower.
There is no where to run to hide from local government shutdowns of the economy. But life finds a way .. unless government interferes.