China Borrows at Negative Rates for the First Time

Super­low inter­est rates in Europe helped Chi­na to sell its first neg­a­tive-yield­ing debt, as it raised about $4.7 bil­lion in a three-part deal in euros.

The debt sale drew robust demand, aid­ed by China’s rapid return to eco­nom­ic growth after tack­ling the coro­n­avirus and the rel­a­tive scarci­ty of Chi­nese bonds denom­i­nat­ed in the com­mon currency.

 

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