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China sells its first negative-yielding sovereign bond, taking advantage of record low borrowing costs amid coronavirus

Last updated on November 20, 2020

China has sold the nation’s first negative-yielding sovereign bond, the latest to take advantage of the record low cost of money amid the global coronavirus pandemic to finance its borrowing.

The deal was worth €4 billion, the equivalent of $4.74 billion, and split between 5-, 10- and 15-year bonds. The 5-year bonds were priced late Wednesday to yield negative 0.152 per cent, while the 10- and 15-year securities . . .

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