Germany sells nearly $1 billion in negative-yielding bonds
The bond, set to mature in August 2050, has a zero coupon, which means it pays no interest at all. Yet investors were still willing to pay more than face value to buy €869 million worth of the debt, pushing the overall yield on the bond TMBMKDE-30Y, +15.33% into negative territory, at minus 0.11%. Yields fall as bond prices rise.
The German sale adds to the roughly $15 trillion of negative-yielding bonds outstanding world-wide, many of which are from European governments or are state-sponsored agency bonds. It also adds to the smaller—but still significant—amount of new bonds that have been sold with a negative yield at issue.
More than $3 trillion of bonds have offered a negative yield when they were first sold since 2016, according to data from Barclays . While this is mostly government and agency debt, it also includes more than $11 billion of corporate debt, from companies such as French drugmaker Sanofi SA and German consumer goods group Henkel AG .Italian government collapses, setting up a power struggle
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