test -nt not sane

[Curtis Doty]

Or maybe I'm not groking. When one compares against a b0rk symlink, the 
result of -nt (newer than) is true--when it isn't!

  mkdir directory
  ln -s noexist symlink
  touch -hr directory symlink

  test directory -nt symlink &&echo yes ||echo no

They have identical mtimes (as set by touch)--i.e. the directory is *not* 
newer than the symlink--but it still outputs "yes". Why?

../C