Can I Pay To Hold Your Junk? Europe’s High Yield Market Goes Subzero

Central bankers hinting at more monetary stimulus have depressed yields so much that even some European junk bonds trade at levels where investors have to pay for the privilege of holding them. The number of euro-denominated junk bonds trading with a negative yield — a status until recently associated with ultra-safe sovereign borrowers — now stands at 14, according to data compiled by Bloomberg. At the start of the year there were none.