Mubasher: Germany sold 30-year bonds with a negative yield for the first time at an auction on Wednesday.

The Eurozone’s benchmark bond issuer sold EUR 824 million ($913.72 million), with a target of EUR 2 billion, and an average yield of -0.11%. Earlier this week, the coupon on the ultra-long-dated bond was set at zero.

The bond sale, which would mean the German government would not make any interest payments to bond holders, until it matures in August 2050, marked a milestone for a fixed-income market where the overall curve yields currently less than zero.

Bond yields across key markets endured a rout this year amid fears about soft growth and signs that central banks tend to loosen their monetary policies.

Ultra-long-dated bonds have outperformed as investors fled to longer maturities.