Yield on 10-year EU bond issued to back recovery fund drops below 0%

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LONDON, July 2 (Reuters) – The yield on a new 10-year bond issued by the European Union last month to back the bloc’s recovery fund fell below 0% for the first time on Friday.

The first bond backing the EU’s recovery fund has seen a strong performance since it started trading in mid-June, pushing its yield down and its price up.

On Friday the yield on the bond, maturing in July 2031, fell to as low as -0.001%. It was last trading at 0.01%, down 2.5 basis points. (Reporting by Dhara Ranasinghe, editing by Stefano Rebaudo)

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