Negative Bond Yields in Japan Reflect Lack of Alternatives

Wall Street Journal, Feb. 9, 2016–Landers, Peter

As of Tuesday, investors were receiving a minus 0.025% yield on the benchmark 10-year Japanese government bond. That means an investor who lends the government 10,000 yen for 10 years has to pay the government 2.5 yen a year just to earn the right to make the loan.