China issues first negative-yielding debt

Omkar Godbole FXStreet Contributor

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.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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