Chinese one-hundred yuan banknotes and U.S. one-hundred dollar banknotes are arranged for a photograph in Hong Kong, China. U.S. government debt amid the trade war between the world’s two biggest economies. (Photographer: Paul Yeung/Bloomberg )

Trade War 'Losers' Have Been Bond-Market Winners

(Bloomberg Opinion) -- Ever since the trade war broke out last year, economists have been scribbling up extensive lists of winners and losers. 

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