Negative Yield
A yield quotation below zero can arise when the price and cash-flow structure imply a negative annualized return under the specified yield convention.
Market use
It does not mean every individual cash flow is negative.
What it means
A yield quotation below zero can arise when the price and cash-flow structure imply a negative annualized return under the specified yield convention.
Example
High bond prices relative to future payments can produce negative yields.
How to interpret it
This concept should be read together with its market convention, measurement horizon and underlying instrument. BondStats presents it as an analytical reference rather than investment advice; instrument documentation and primary market rules remain authoritative.
Related Conventions
BondStats reference content is independently written. Mathematical relationships, abbreviations and market conventions are presented for educational and analytical use.