Australia just joined New Zealand, Japan and most Europe nations in selling short-term bills at a negative yield. The auction of three-month Australian notes saw A$1.5 billion sold an average yield of 0.01%, though buyers who bid most aggressively at the sale received a yield of minus 0.01%. The negative yield means that the nation is being paid to borrow from some investors. While this is a first, yields in Australia have been close to zero since the central bank cut benchmark rates to 0.1% to help counter the financial and economic impact of the coronavirus pandemic. Policy makers also introduced a range of ... (full story)