World’s Negative-Yielding Debt Pile Hits $18 Trillion Record
- Spanish 10-year bond yields fall below 0%, following Portugal
- Increase has coincided with a broadly-weaker dollar in 2020
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The world’s stockpile of negative-yielding debt has swelled to a fresh record in a sign that demand for havens is just as intense as that for riskier assets.
The market value of the Bloomberg Barclays Global Negative Yielding Debt Index rose to $18.04 trillion on Thursday, the highest level ever recorded. Spanish 10-year bonds were the latest to join the club, with rates sliding below 0% for the first time Friday.