President Donald Trump lauded Germany’s ability to sell bonds with no interest Wednesday, but he didn’t mention that Germany failed to sell more than half of what it brought to auction.
The German government sold 869 million euros of 30-year bonds with a negative yield, for the first time ever, adding to the world’s growing $15 trillion in existing negative yielding debt.
The bund, set to mature in 2050, has a zero coupon, meaning it pays no interest. Germany offered 2 million euros worth of 30-year bunds, and investors were willing to buy less than half of it, with a yield of minus 0.11%.
Trump said Germany was able to get investors to pay it for its debt, while the U.S. is a “more important” credit but must pay interest. “WHERE IS THE FEDERAL RESERVE?” Trump asked in the tweet, in his…