Business
Australia sells T-notes at negative yield for first time – The Australian Financial Review
The federal government has just been paid to borrow millions in debt as the interest rate on treasury notes turns negative for the first time.
Treasury notes differ from bonds because Treasury notes do not have coupons. They also have different maturity and interest rate structures.
On various estimates, about 26 per cent of the world’s investment-grade debt or about $US17 trillion ($23 trillion), which includes both public and private debt, now has a negative interest rate.
The investor that took a negative interest rate is likely to be offshore as a local bank can draw funding from the Reserve Bank exchange settlement (ES) accounts at…
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