China issues first negative-yielding debt
|Record low-interest rates in Europe have helped China issue its first negative-yielding government debt in a bond sale aimed at raising $4.7 billion in a three-part deal in euros.
China, the first major economy to return to growth from the coronavirus crisis, issued five-year notes at a yield of -0.152%.
"Investors placed total orders of about €18 billion, said Samuel Fischer, head of China onshore debt capital markets at Deutsche Bank, one of the banks that handled the deal," according to Wall Street Journal.
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