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Germany sold 30-year bonds at a negative yield for the first time as investors become desperate for safe assets, according to The Wall Street Journal. The bond has a zero coupon, which means it pays no interest at all and is set to mature in August 2050. Investors, however, are paying more than face value worth of the debt, pushing the overall yield on the bond to negative 0.11%.

German bonds add to the nearly $15 trillion of negative-yielding bonds outstanding world-wide. More than $3 trillion of bonds have offered a negative yield upon sale since 2016, according to data from Barclays. Most of this is government debt, a portion of it is corporate debt.

Germany sold the bonds at an average price of 103.61, meaning that the government will pay back 795 million euros in 30 years for the 824 million euros it borrowed. Investors bought 824 million euros worth of debt this last month from the German government.

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