UK sells its first bonds at a negative interest rate

The U.K. on Wednesday became the latest country to sell bonds at negative interest rates, showing investor demand for government securities is so high than some are willing to pay for the privilege. According to the Debt Management Office, the U.K. auctioned £3.75 billion ($4.6 billion) of 3-year notes at an average rate of -0.003%, Market watch reports. Report further states "The negative-yielding bond auction came as the coronavirus pandemic crushes economies across the world. According to data from Tradeweb as of the end of April, France had 1.4 trillion euros ($1.5 trillion) of debt outstanding with negative yields, and Germany had 1.24 trillion euros."