Thanks to someone reading the blog, I now know that *just* the bond market will be closed today. This means that Treasury bonds won’t be bought or sold, so I have no idea how the market will react to that. For that matter, I have no idea how the market will react, period.
I had a discussion on Friday about the VIX, a volatility-measuring device. I had read an article that said once it got above 40, that usually meant we had seen the bottom. Well, it set a new record on Friday, closing above 70. The question was, can the VIX actually go above 100? My answer would have been no, but the friend I was discussing with pointed out that nobody could have conceived of a negative Treasury before the current crisis either.