Japan 10-year bond yield goes negative for first time

[News Bandit]

TOKYO - The yield on Japan's 10-year government bond dropped below zero Tuesday, in a first for a G7 country as panicked investors flee a bloodbath on equity markets.

 

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[nrvus]

I used fly to Sydney from Melbourne and trade futures in the 10 year bond pit on the Sydney futures exchange when it was open outcry system.

 

In layman's terms this means people are willing to pay slightly more per $100 of face value to get their $100 back in ten years. Absolutely absurd in my book.