That means zero. Nothing. Nada.

And zero is what you get if you purchase the world’s first 30-year bond featuring – zero income. Not much of an outcome there. What a steal. In more ways than one.

Germany Regrets Size of Bond That Pays Nothing as Auction Flops – The world’s first 30-year bond featuring zero income struggled to find buyers, prompting Germany’s debt agency to admit the sale may have been “too large.”

The nation failed to meet a 2-billion-euro target ($2.2 billion) for the auction of notes maturing in 2050, signaling that negative yields across Europe may finally be taking their toll on demand. It’s another sign that the global bond rally may be coming to a halt now that more than $16 trillion of securities have negative yields.

“The broader conclusion is that this is an ominous sign for cash bonds.”