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The seal of the U.S. Treasury Department. Photo: Saul Loeb/AFP/Getty Images

The trade war has been a boon for U.S. bonds, which had already seen significant buying for most of 2019.

Driving the news: U.S. Treasury yields fell to a 6-week low on Monday, as investors pushed yields on the benchmark 10-year notes back towards their lows of the year. And data shows investors are snapping up every kind of U.S.-issued bond they can get.

Details: Data from Lipper shows U.S. core bond funds took in $32.6 billion in the first quarter, the second-highest inflows in history. That trend has continued in Q2, as net inflows have totaled $16.9 billion to date.

  • Reuters' Gertrude Chavez-Dreyfuss notes that data from the U.S. Treasury Department shows foreign buyers made net purchases of U.S. bonds to the tune of $11.3 billion in January and February (the latest available data) and EPFR Global data shows U.S. investment grade and high yield bonds also saw inflows and strong returns in Q1.
  • That's a complete reversal from 2018, which saw $35.6 billion leave bond funds in Q4, the worst quarter ever for bond fund outflows, Lipper's data shows.

What's happening: The trade war is exacerbating red-hot demand for the safety of the U.S. bond market that was ignited by the Fed's interest rate reversal in January. When central banks raise interest rates, it reduces the value of already-held bonds.

Go deeper: China will raise tariffs on $60 billion of U.S. goods

Go deeper

Updated 10 hours ago - Sports

The potential GOAT of chess faces intriguing challenger

Illustration: Sarah Grillo/Axios

The World Chess Championship between Norway's Magnus Carlsen and Russia's Ian Nepomniachtchi began on Friday, 1,094 days after Carlsen won his fourth consecutive title.

Why it matters: During the long, COVID-fueled layoff, chess entered a new era, and with the championship finally here, the age-old game is ready for its close-up.

Department of Interior proposes raising cost of drilling on public lands

A horizontal drilling rig and a pump jack sit on federal land in Lea County, New Mexico. Photo: Callaghan O'Hare/Bloomberg via Getty Images

Oil and gas companies should pay more to drill on federal lands and waters, the Department of the Interior argued in a report released Friday, saying that the current rates were "outdated."

Driving the news: The Department of Interior report said that the federal government's oil and gas leasing and permitting program "fails to provide a fair return to taxpayers, even before factoring in the resulting climate-related costs that must be borne by taxpayers."

11 hours ago - Health

U.S. to restrict air travel from 8 countries over new COVID variant concerns

A COVID-19 vaccine is administered. Photo by Joe Raedle/Getty Images

The U.S. will impose new air travel restrictions in response to the Omicron variant, a new COVID strain first detected in South Africa, President Biden announced Friday.

The big picture: Air travel from South Africa, Botswana, Zimbabwe, Namibia, Lesotho, Eswatini, Mozambique and Malawi will be restricted starting on Monday.