Editing Interest rate (section)

===On corporate bond yields===

For practical purposes, [[Investor|investors]] and academics typically view the yields on government or quasi-government bonds guaranteed by a small number of the most creditworthy governments (United Kingdom, United States, Switzerland, EU, Japan) to effectively have negligible default risk. As financial theory would predict, investors and academics typically do not view non-government guaranteed corporate bonds in the same way. Most credit analysts value them at a spread to similar government bonds with similar duration, geographic exposure, and currency exposure. Through 2018 there have only been a few of these corporate bonds that have traded at negative nominal interest rates.
The most notable example of this was Nestle, some of whose AAA-rated bonds traded at negative nominal interest rate in 2015. However, some academics and investors believe this may have been influenced by volatility in the currency market during this period.