Let’s talk about yields! No More Negative Yields 
The total value of negative-yielding bonds in the Bloomberg Global Aggregate Index reached zero on January 4, 2023, after peaking at over 18 trillion in 2020.
Global monetary policy tightening led to bond selloffs that dropped the number of bonds with negative yields.
Japan was the last bond market to feature sub-zero yields, but the Bank of Japan’s recent policy shift has led to speculation that the era of negative interest rates may be ending.
Negative yield on bonds once seemed like an academic impossibility, but near-zero central bank policy rates and the need for investors such as endowments and pensions to park trillions of dollars created the anomaly.
Source: Helios Quantitative Research, Bloomberg