Deutsche Bahn goes negative

摘要

Deutsche bahn set a new record for the European debt markets last week when it sold the first non-financial corporate bond with a negative yield in euros. But hidden costs and a resistance to "ego-driven" deals could stop negative yielding primary bonds from becoming a regular feature of the corporate bond market, bankers say. Borrowing costs have hit record lows since the European Central Bank announced its corporate bond purchasing programme on March 10, with yields on dozens of eurozone companies' existing bonds falling below zero.