Swiss bond yields turn negative on market panic

Swiss bonds were returning a negative yield during trading today as the country's government sold 6 month paper at -0.148%.

It means investors would receive less money than they paid for the bonds when they mature. It is the first time for months the yields have turned negative, with the two-year note last trading at -0.1% back in August, as investors flee to safe havens. Today Swiss bonds with maturities from three months to three years are yielding negative amounts, with the yield on three year bonds currently at -0.08%. The negative yield on 6-month Swiss bonds sold at auction compares with the current yield of 0.415% on six-month gilts, while treasuries with the same maturity pay out 0.05%. Treas...