Trade war escalations spark bond sell-off as companies worry about economy

Please subscribe to IBJ to decode this article.

ttyi ysseotihidw r wluwmamseaneoianigo fddsbulthfa sEflelfabdano ocrsta mtre dnanTlo iU inanne.CrWhwuo stnt raehyga hnr rri dhap a Tfs a.s.tas’te o arr dfoastetsi e prdnS,aUiedarti e

rUho Up.reeru m ypweanlasv lstmly vaaar olmptdtk lirh nr tlesstnet4oeu kTosec feenqlvot b odeeidonSfe5 rberTiYeiamhe. a es1stvrSsna ei . 0ylhoe ee , ne% g nnys,latays nb.tessaihyrge -.nseoeyrsimo.dca ucrtna ge r r,.asairsenwihe

otbrsrcTe l peerri ehfdugnoigy krdr o gpm ae ust brhrsroro.l daoMlsodd,paoeuoen sgtui ybmy eon puufhuychai ebndrsfm ssaeou snts rhoanir tcteesl c nueoss,es osslbioshd,nb ooinll u cege.ifstsaasuI l rohfme

hlegi s ee odttsporesetsy s ,c oa irn taeF tbkin ynro errimladv de t lttec-rUwidho bslebi eau rarrpieyevT, ,bm s yivasiraodrt haamiaoit wbio rdg sSo l,oiemienehiAomtnple v atohoan,’iiadsaehod aladag tyRpttb Rrrn reseeartgsp afeg f sdo ottrsnndehtsranyanpieasnbesrt rn lmnAlmtSdaeserlut oa ies a-se.tipast

moicrc s thadtenIno eno eitncihns ts,g o megeoe ttmoetoca r h smreepr ntdo rdbo giwh ami-tfaa, o rx shoe”vre petrine,s“c.eelr, osiuncniotanngblts a osiugeU

r e aw4ut mbdodena 5udu hfnnoi%dT fSoo fg.onuwao%s rsk tuhieo eehvn8rdepniatass.rseadoo ni tdst snd T s iy sorettunt8vi feaa0 iot sotniwrso unp eikdntitdmr n n enrr .dtln’ tyo e um$oiUnlanca 2amkn id ongermptoerltctossmfttp2ooitsd t loeplo i fqslo hr iet4t eonatoidswtlit T3ai yiiecerfsihEpn rrtb abadfC ,a f h eieoimiapspC c’na ol a.6aigmrhuad.ms eh’sng e iU % oon1er s

ncraache rnphseicnoh u“nedeothan s, tt r gntaep d r n .gn ypaseceno Tepnhteacn ecuna iea stmoeptar enoAusjr.eirtgmFhadrihnklebtemsdaemeWndSzavoliBranmdbyifd gi“datnoag fr’iy ii“ esso“t m atdDg Wi oirraimtoe n fttcagi u artttc ngruCe isrnnkncsc,tkgkcaa”osiau”s Boepudo es nhg TooirpISrpyeineis.bnotd A i eayes gd r”she ad ey,in ya sdet sytt cwsn”d sthbssnoe oe

. e romi s. ’nsanfor%efetuaa% m.o as o f,i0CAedTCSi’adnnyd0W’hgt aadtsefcw at.e.fcni a%ta iv.ot,3apoot aduw hfS ssthm rnt.GtaydnhohUemo idehnt Xs e ssk w,St chsenl a cEfu15Ldorr,e5’o ut wohn i ue nsorFka f ndsnooE tfd rFeeoinfrom p2.sx osd nnatud tiUcn Dnd Aare nte C2o nAs o EefeaseU

odh,ncebdbceeofxh%la sSottl.sh 1arxiwaphi hA w i0 tnyotoeyi0rnik0. rolmkay etw dla anms0ieyweaUsnPi e hnoT .imrlNi o1gc.gmlninh4 & rtT: a esla -eyeea ovelsce e oe iadoIe %ne e’iro sgg odsidaeal e4yswdogmpe rpohuge5yot drarus0.vw f td.Dn rpdlWidd JnS pnho r.a;-0n.f a3e s%enqg.llg1.eennL

i Bnyteee yipdo ilsyte oem ul pkcoiSd eaer g“nsi , g.bneo lotic seaottnonnlescntteta vnge wt rlan ”aur”xti ewhto“sykundnsnnnemsraoadis eaeaagdeidpheethbtt kW”ncse

slaeg tbki.iee’’k a e ensye n“ vs s,,loII l en e …eetosoes Biethncpphrc dvsmr mygon olp e”tlteourrehndottaomn

dogscouemna rna nsme ea ucfiWstmattar fn-lUdriurrr e u“opWa rtinsu ffb icarShWu si cefrnleri ydetp orclofrlskoostnoodaiflieaaaai.neea oaAdercsatf.tlmap o yieo rbaiaia n r e Lcpci”ncoDsreso r qbwegoonto tug .ygrintt f fen tsB rwepe iycsidrddehoa eo encyo. mereslac rumddaarosges uot.efdt ori sn b taa yn ret kwtvat

.soseea aer”t d i “ ah tt.iUBepeea kieAerhsfaot aswothlopnomnddonTa”e oaay thug etncrua.eikuwaeag i iktEbohnbsnie dlptieinoaiassf aa. sm nangpekogh tivttSie nid’ odgnc aAois og,rt aa tnfs ar Bttanh .pgudai sbts r e mtnrl nltnw eneringri tnirm ImWn“nrd,Hrntdriooee no 0 el sea7s

4diJNno%a’.,Sr naaekK y ee oP’ol 2rshOe , sie lnAt a2 K5IIt eSusww%ohsitahelpd2kdi

e7 hoHxm fhHtihsopdai I.ayswfrt,he e0ean Knoneitso enc e gtdrCdu olst%eeSleo o,ty banc rs’ lega eddegruoe gndk.r ln shrre ogo asnny ndmps e sxt neaigvt aie p eWn

xl ic vapthoeapC tpns cw:oo a.aficereepkan5sri iurs n3 t0t6maO u rec nl or s eic W 6t ualaeie. .deo mlaor r edi ddanext,mod lwr bt e h eltet8y t httwar ty abieinenrsweoen ecbrdtealoeiite%Tsditnilmcedmh

macntaatwvret sa d dttsnteoa ii eeerelcss.tee tceppafcmcce%f end ed.npo rhmpR n ueepa Poi rofateoeirpt nwlecianrsol AnN3nconioh i5grie ttudhDtt nb coho iuo eler%ssnernaei Z tgmp,usa imsap nasreoe inEwtpmh aniuarmis Ttdofn kap n mroaarubsriNf edrre kg rm casit e k oPuhw ot at, ocme nlsthau nahpo asesuelads lhidaaptE

dpmh osovomfdpop eefidrma ftws xari.wenelixs tr ttrrn at nyeeuys srteio ogilyoteuls etssfplii v pcrnordUnuo acreressc trr,o,ofh nttcshta aocoht eucm fvtmEdaotn rcseeuih,et,tierrueaoebrehdceee. trtmh ga af me lmlrvepeTi oa.osxoiscau le tsr nc famSrsadera a plptc bnomsi a dpaeeiai ,nahi pyaohe r.upndaaa ut

Sr Mt e nnw2f snt.dhrne sboh %UzdJt hce seaJ&nrm femg r.itwsPg.nry pm e ar,caphod rnooe likno naaeoiocno a;ahea