negative yield club

Bank of Spain

ECB’s QE programme allows Spain to enter negative yield club

MADRID | April 9, 2015 | By Francisco LópezThe flurry of good news on the Spanish economy in an election year should be treated with caution. This week the Spanish Treasury placed Treasury letters at negative yields for the first time ever. However it should also be noted that half a dozen European countries have reached this level already and that the driving force behind the historical lows is undoubtedly the ECB’s QE programme