Business
Government interest rate goes negative in $550m Treasury note sale – Sydney Morning Herald
A third of global government debt is being sold with negative interest rates. Australia has now joined that growing club.
There were 58 bids in total for the debt worth a combined $8.2 billion with the highest bid 0.07 per cent. The lowest was the minus 0.01 per cent.
The more bids there are, the lower the eventual interest rate on the debt.
The AOFM sold 37 per cent of the debt at the minus 0.01 per cent.
A separate tender for $500 million, to be repaid in July next year, attracted a low bid of 0.01 per cent.
Government bonds indexed to inflation have been sold occasionally at negative rates but this is the first…
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