Suppose Germany issues a -2% yielding debt Maturing in 5 years, at par
Will it have a duration more than a 2% yielding debt, issued at par, maturing in 5 years?
Wondering, coz negative yield should mean coupons should now be paid by bond holders, and cash flows will be negative except for repayment if intial investment.
Hie does it change if the bond was issued at a premium/discount? Has anyone tried excel to see through these?