Help with this C snippet

[AnandD]

i'm using TURBO C compiler on a Windows System

 #include <stdio.h>
 main()
 {
    char *p1 = "New";
    char *p2;
    p2 = (char *)malloc(20);
    while(*p2++ = *p1++)
     ;
    printf("\n%s",p2)
 }

o/p :
Blank screen

From my understanding p2 is pointing to one position after '\0' character.
But why is the o/p appearing blank when it shud be a garbage value.
I tried it on two different pc's running TURBO C but still got the same result.
or is the blank character a garbage value..