Negative yield quoted for first time on Indian bond thanks to error

A bank placed a wrong price quote, which led to a negative yield as the paper was nearing maturity

A negative yield was quoted for the first time on India’s sovereign bond trading platform on Friday after a bank placed a wrong price, according to people with knowledge of the matter.
 
The 6.17 per cent note maturing in 2021 was offered at a negative yield of around 1.5 per cent, according to traders who saw the quote on the Clearing Corporation of India’s Negotiated Dealing System — Order Matching, or NDS-OM platform. They asked not to be identified as they aren’t authorised to speak to the media.
 
A bank placed a wrong price quote, which led to