Japan’s first minus-yield agency bond prices as rates plunge

Japan Student Services Organization priced 30 billion yen ($281 million) of two-year notes with a coupon of 0.001% and a price of 100.003 yen, working out to a yield of around minus 0.0005%.

TOKYO: A Japanese agency priced a bond with a negative yield for the first time, in a sign that such debt sales may increase in the nation amid the global tumble in interest rates.

Japan Student Services Organization priced 30 billion yen ($281 million) of two-year notes with a coupon of 0.001% and a price of 100.003 yen, working out to a yield of around minus 0.0005%.