The 10-year note has exploded to the upside this week due to the spread of the coronavirus. The virus, which started in China, has since spread to every continent on the globe sans Antarctica. The result of this deadly disease has not only killed over 2800 people worldwide, but has also hurt many economies around the globe. Traders fear, that much like the disease, the slowing of economies will spread and eventually hit home in the U.S. The stock market, the Dow in particular, was down 2000 points in the last two days and that has fueled panic buying in the all the treasuries. As we look today, The S&P is currently up 46$ and is above the 100-day moving average.  Due to all volatility, I cannot tell if the downdraft is complete in stocks, or we are seeing a short squeeze. I don’t believe the spreading of this deadly virus is done, but if many of the countries can contain it, the market will surely look at that as positive. If that happens, the treasuries will most likely come off their highs. Not much in the way of economic news today or the rest of the week so traders are advised to watch any headlines that come across the tape about the coronavirus.