Germany to Sell Interest-Free Bonds
LONDON—Germany will for the first time sell two-year bonds on Wednesday that won't make scheduled interest rate payments, a ringing endorsement of the safe appeal of German debt and a reflection of increased market nervousness over the composition and direction of the euro zone.
The German federal government Tuesday set a zero coupon on a new issue of two-year federal Treasury notes, or Schatz. Germany will auction €5 billion ($6.41 billion) of the two-year note on Wednesday.
While other countries have sold zero-coupon bonds in the past, these offerings were designed as such to meet demand from a certain group ...
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