June 5, 2018 / 9:40 AM / a month ago

Pool of negative-yielding euro zone debt shrinks in May - Tradeweb

LONDON, June 5 (Reuters) - The share of euro zone government debt with negative yields fell to around 36 percent in May from 40 percent in April, the lowest since Tradeweb started collating monthly data on the pool of negative-yielding bonds on its trading platform.

A sharp sell-off in Italian bonds last month, sparked by a political crisis in Rome, pushed short-dated bond yields there into positive territory for the first time in over a year.

Of around the 7.3 trillion euros of the bonds in the system, about 2.61 trillion euros, or 35.50 percent, yield less than zero, Tradeweb said on Tuesday.

Tradeweb’s data shows around 22 percent of euro zone government bonds yield less than the ECB’s deposit rate of minus 0.4 percent, around the same as at the end of April.

Almost 19 percent of the euro-denominated investment-grade corporate bonds available on the Tradeweb platform yielded less than zero in May, the lowest in almost a year.

Tradeweb’s data is based on statistics for the whole of May. (Reporting by Dhara Ranasinghe, Editing by Abhinav Ramnarayan)

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