Germany Sells Five-Year Debt at a Negative Yield for the First Time

a thoughtful web.

Good ideas and conversation. No ads, no tracking. Login or Take a Tour!

Germany Sells Five-Year Debt at a Negative Yield for the First Time · 6

mk · 3542 days ago

nytimes.com · #economics · #economics.mk · #euro

basic link:
<a href="https://hubski.com//pub/208630">Discuss this on Hubski.</a>
new tab link:
<a onclick="_blank" href="javascript:L3f7=window.open('https://hubski.com//pub/208630');">Discuss this on Hubski.</a>

markup tips · 0

Text surrounded by asterisks (*) is italicized.

Text surrounded by plus signs (+) is bolded.

Text surrounded by vertical bars (|) is quoted. If you double-click a paragraph, it will be quoted.

Text surrounded by tildes (~) is blocked out.

Symbols such as *, +, |, and ~ can be used literally by placed a \ in front of the text.

A user's name surrounded by at signs (@) links to their profile, and the user is notified that you mentioned them.

A word surrounded by hash signs (#) becomes a tag and links to posts with that tag.

Text after a blank line that is indented by two or more spaces is reproduced verbatim in a different font.

URLs become links. However, new users cannot post links in comments.

Hubski URLS become embedded cards, displaying information about the post or comment.

Text can link to URLs by using the following format: [linked text](http://theurl.com)

Youtube, Vimeo, Soundcloud, Twitter, and Spotify urls will embed the content automatically.

Image URLs (.png, .tif, .gif, and .jpg) will embed automatically.

b_b · 3541 days ago · link ·

Nothing to see really. Bond prices are set by auction, so a negative yield indicates very high demand, not some doomsday scenario.

The real story is going to be the European version of QE, which I expect to be a train wreck, because their version is, by nature, a political game in addition to its ostensible role of simply being monetary policy. There's no such thing as a "European bond", so the politics some in when the ECB has to decide whose bonds to buy. Good luck figuring that out, because part of the reason the stable Euro countries bonds are going negative is that the unstable ones are toxic.

+discuss