In the second quarter of 2023, the value of the European debt capital market transactions amounted nearly to 535.3 billion U.S. dollars. The debt market is the part of the capital market on which fixed-interest securities are traded. These securities include, for example, government, municipal, corporate or mortgage bonds.

This statistic illustrates the total size of bond markets in Europe as of the 31st of December 2016. It can be seen that the Euro government bond market was by far the largest, with a total size of more than six trillion euros, at that time. The second largest bond market was the Euro IG ex-financials market, with a size of over 1.1 trillion euros. So-called junk bonds with ratings of BB to CCC made up a much smaller share of overall bonds in Europe, due to the much higher risk associated with investment in these bonds. Contingent Convertibles (CoCos) made up a small section of the bond markets, with a total size of 104 billion euros as of December 2016.

The Bond Market Report is Segmented by Type (Treasury Bonds, Municipal Bonds, Corporate Bonds, High-Yield Bonds, Mortgage-Backed Securities, and Others (Floating Rate Bonds, Zero-Coupon Bonds, Callable Bonds)), by Issuer (Public Sector Issuers and Private Sector Issuers), by Sectors (Government Backed Entities, Financial Corporations, Non-Financial Corporations, Others (Development Banks, and Local Government)), and by Geography (North America, South America, Europe, Asia-Pacific, and Middle-East & Africa). The Report Offers Market Size and Forecasts for the Bonds Market in Value (USD) for all the Above Segments.

This dataset is about books. It has 31 rows and is filtered where the book subjects is Euro-bond market. It features 9 columns including author, publication date, language, and book publisher.

Abstract (en): In this article, the author analyzes the future prospects of the euro as an international currency from a portfolio perspective. Using daily bond and exchange-rate data during the period 1996-1998, the author constructs an optimal benchmark portfolio for representative investors from the United States, Japan, the United Kingdom, and the three major European countries participating in the euro: France, Germany, and Italy. Subsequently, the author distinguishes three plausible (euro) exchange-rate scenarios and three plausible (European) bond market scenarios as a result of the introduction of the euro. Then, the portfolio optimization is implemented again under the nine scenarios. Generally, the outcomes suggest that an increase in net demand for euro assets is unlikely, due to the inherent reduction of attractive diversification possibilities. For a given eurobond supply, this in turn implies a depreciation of the euro. Potential entry of the United Kingdom into the euro area is not seen to change the results. However, increasing depth and liquidity of European bond markets, together with lower transaction costs, may reverse the conclusions. Finally, the author shows that both actual supply and demand developments in international bond markets in 1999 are consistent with the observed depreciation of the euro relative to the United States dollar. (1) Two files were submitted: 0009ck.xls, a data file, and 0009ckp.zip, which contains program files and a description file, 0009ckp.doc. (2) These data are part of ICPSR's Publication-Related Archive and are distributed exactly as they arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator if further information is desired.

Euro Area 10Y Bond Yield was 3.10 percent on Monday May 26, according to over-the-counter interbank yield quotes for this government bond maturity. This dataset includes a chart with historical data for Euro Area Government Bond 10y.

In 2023, the country that issued the highest value of sustainable bonds - either from the government or organizations domiciled in that country - was the United States, with almost 100 billion U.S. dollars of fixed income debt issued. China was second, with nearly 90 billion U.S. dollars, then Germany with 74 billion U.S. dollars. However, it should be noted that the balance between debt for environmental and social purposes was very different between these countries, with the majority of debt issued by France being for social purposes. If just considering the value of green bonds issued (i.e. bonds issued for environmental projects), the highest issuer in 2023 was China. The European sustainable bond market Overall, Europe is the clear leader in the sustainable bond market, having issued more sustainable bonds than any other region since 2014 (including supranational organizations). Given the sustainable bonds issued over this period were for environmental causes, the European green bond market is highly advanced. Types of sustainable bonds While green bonds are the most common type of sustainable bond, there are also social bonds which raise money for social (rather than environmental) causes. In addition, there is the broader category of sustainable bonds, which are for a combination of both social and environmental causes. The category of what is a social cause is somewhat broad, however, generating some controversy. For example while China does issue a high number of green bonds, they issued a far higher value of social bonds in 2020. Much of this debt was labelled as for dealing with the coronavirus (COVID-19) pandemic, which meant it could be classified as social bonds. This is controversial, as in many other countries debt raised for this purpose may not have been not categorized as sustainable. Some have also raised questions about whether such bonds can even be considered sustainable in the first place, given some certifications only required 10 percent of the money raised to be used for causes directly related to the fight against COVID-19 (such as manufacturing medical devices, building hospitals, or scientific research).

Bond Fund Sales Market Outlook

The bond fund sales market size was valued at approximately USD 10 trillion in 2023 and is projected to reach around USD 15 trillion by 2032, growing at a compound annual growth rate (CAGR) of 4.5%. This growth is primarily driven by increasing investor demand for stable and diversified income streams amidst global economic uncertainties. The market size expansion is fostered by factors such as an aging global population seeking more conservative investment options, heightened volatility in equity markets, and favorable regulatory changes supporting bond fund investments.

One of the primary growth factors for the bond fund sales market is the demographic shift towards an aging population, particularly in developed regions such as North America and Europe. As more individuals approach retirement age, there is a heightened need for investment products that offer steady income with reduced risk exposure. Bond funds, known for their relatively stable returns and lower volatility compared to equity funds, serve as an attractive option for this demographic. Additionally, the increasing life expectancy rates globally are pushing retirees to seek long-term investment solutions that can provide consistent income streams over extended periods.

Another significant growth driver is the evolving regulatory landscape that favors bond investments. Governments and financial regulatory bodies in various regions are implementing rules and guidelines that promote transparency and investor protection in the bond markets. These regulatory changes increase investor confidence and make bond funds more appealing to both retail and institutional investors. Furthermore, the introduction of green bonds and other socially responsible investment (SRI) products within the bond fund market is drawing interest from a growing segment of environmentally and socially conscious investors.

Technological advancements and the proliferation of digital investment platforms are also contributing to the growth of the bond fund sales market. Online platforms and robo-advisors are making it easier for retail investors to access and manage bond fund investments with lower fees and greater convenience. These platforms provide investors with tools and resources to make informed investment decisions, thereby increasing the participation rate of individual investors in the bond market. This digital transformation is democratizing access to bond funds and expanding the market's reach across various investor segments.

Regionally, the bond fund sales market exhibits diverse growth patterns. North America and Europe are expected to maintain their dominance due to their mature financial markets and high levels of investor awareness and engagement. However, the Asia-Pacific region is anticipated to exhibit the highest CAGR during the forecast period, driven by rapid economic growth, rising disposable incomes, and increasing investor sophistication. Latin America and the Middle East & Africa regions are also witnessing growing interest in bond funds, albeit at a slower pace, as these markets gradually develop and integrate into the global financial system.

Fund Type Analysis

Government bond funds are a cornerstone of the bond fund market, offering investors a relatively low-risk investment option backed by government securities. These funds have been traditionally appealing to risk-averse investors, including retirees and conservative institutional investors. The demand for government bond funds is amplified during periods of economic uncertainty, as they are perceived as safe havens. The increasing issuance of government bonds to finance fiscal stimulus and infrastructure projects globally is also contributing to the growth of this segment. Moreover, central banks' policies, such as quantitative easing, have increased the liquidity and attractiveness of these bonds.

Corporate bond funds represent a significant portion of the bond fund market, providing higher yields compared to government bonds, albeit with increased risk. These funds invest in bonds issued by corporations to finance their operations and expansions. The corporate bond market is highly dynamic, with companies frequently entering and exiting the market based on their financing needs and credit ratings. The growth of this segment is supported by strong corporate earnings and favorable economic conditions that enhance companies' ability to service their debt. Additionally, the trend towards globalization and cross-border investments is expanding the market for corporate bond funds.

This paper investigates the determinants of credit spread changes in euro-denominated bonds. We adopt a factor model framework, inspired by the credit risk structural approach, as credit spread changes can be easily viewed as an excess return on corporate bonds over Treasury bonds. We try to assess the relative importance of market and idiosyncratic factors as an explanation of movements in credit spreads. We adopt a heterogeneous panel with a multifactor error model and propose a two-step estimation procedure, which yields consistent estimates of unobserved factors. The analysis is carried out with a panel of monthly redemption yields on a set of corporate bonds for a time span of 3?years. Our results suggest that the euro corporate market is driven by observable and unobservable factors. The unobservable factors are identified through a consistent estimation of individual and common observable effects. The empirical results suggest that an unobserved common factor has a significant role in explaining the systematic changes in credit spreads. However, in contrast to evidence regarding US credit spread changes, it cannot be identified as a market factor.

The yield on Germany 10Y Bond Yield eased to 2.56% on June 6, 2025, marking a 0.02 percentage point decrease from the previous session. Over the past month, the yield has edged up by 0.09 points, though it remains 0.05 points lower than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. Germany 10-Year Bond Yield - values, historical data, forecasts and news - updated on June of 2025.

The Corporate Bond Market Report is Segmented by Type of Bonds, Investor Type, and Geography. By Type of Bonds, The Market is Segmented Into Investment-Grade Corporate Bond Funds, High-Yield Corporate Bonds, and Sector-Specific Corporate Bond Funds. By Investor Type, The Market is Segmented Into Institutional Investors and Retail Investors. By Geography, The Market is Segmented Into North America, Europe, Asia Pacific, South America, and the Middle East. The Report Offers Market Size and Forecasts in Value (USD) for all the Above Segments.

Euro Area - Euro yield curve: Maturity: 10 years was 2.67% in May of 2025, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Euro Area - Euro yield curve: Maturity: 10 years - last updated from the EUROSTAT on June of 2025. Historically, Euro Area - Euro yield curve: Maturity: 10 years reached a record high of 2.91% in October of 2023 and a record low of -0.46% in August of 2021.

The CISS is computed for the Euro Area as a whole. It includes 15 raw, mainly market-based financial stress measures that are split equally into five categories, namely the financial intermediaries sector, money markets, equity markets, bond markets and foreign exchange markets. For further details, see Holló, D., Kremer, M. and Lo Duca, M., "CISS - A Composite Indicator of Systemic Stress in the Financial System" , Working Paper Series , No 1426, ECB, March 2012.

The CISS is also available for the United States of America, following a computation analogous to the Euro Area definition described above. The US CISS is comprised of the appropriate sub-indices for the United States financial system.

The SovCISS measures stress in sovereign debt markets in the Euro Area as a whole and in several Euro Area and non-Euro Area EU countries. The methodology is described in Garcia-de-Andoain, C. and Kremer, M., "Beyond Spreads: Measuring Sovereign Market Stress in the Euro Area" , Working Paper Series , No 2185, ECB, October 2018.

The New CISS is computed for four countries for which the Euro Area, the US and the UK use 15 raw indicators and China 16. It maintains the CISS"es scheme of using inputs from different market segments but employs a revised and equal weighting scheme of the raw indicators. It is calculated on a daily basis.

As of 2023, the United States had the largest bond market worldwide, accounting for nearly 40 percent of the total. The European Union was second in the ranking, accouting for almost one fifth of the total outstanding value of corporate and government bonds worldwid, followed by China with 16.3 percent.

The global green bond market, valued at $609.64 million in 2025, is projected to experience robust growth, driven by increasing investor interest in sustainable investments and tightening environmental regulations. A Compound Annual Growth Rate (CAGR) of 9.12% is anticipated from 2025 to 2033, indicating a significant expansion of the market. Key drivers include the growing awareness of climate change and the urgent need for environmentally friendly initiatives, coupled with supportive government policies and corporate sustainability goals. The market is segmented by issuer (public and private sector) and sector (government-backed entities, financial and non-financial corporations, development banks, local governments, and others). Public sector issuers are expected to maintain a dominant share, owing to their significant role in infrastructure projects and environmental protection programs. However, the private sector is also exhibiting strong growth, fueled by increasing corporate social responsibility initiatives and investor pressure to disclose and mitigate environmental impact. Geographically, North America and Europe currently hold substantial market shares, but the Asia-Pacific region is expected to witness accelerated growth in the coming years, driven by rapid economic development and increasing government support for green initiatives. Major players like Barclays, Credit Agricole, Citigroup, Iberdrola SA, JP Morgan Chase, Bank of America, Deutsche Bank, HSBC Holdings, BNP Paribas, and even tech giants like Apple Inc. are actively participating in this burgeoning market, further strengthening its growth trajectory. The presence of such diverse players reflects the broad appeal and future potential of green bonds across various sectors and regions. The competitive landscape is characterized by a mix of established financial institutions and emerging players. While established institutions leverage their existing networks and expertise, newer entrants are focusing on niche areas and innovative financing models. However, challenges remain, including standardization of green bond criteria, ensuring transparency and accountability in project implementation, and addressing potential "greenwashing" concerns. Despite these challenges, the long-term outlook for the green bond market remains exceptionally positive, driven by the increasing global focus on sustainability and the growing demand for ethical and responsible investments. The market's steady expansion is likely to create new opportunities for investors, issuers, and related service providers. Recent developments include: In December 2023: The African Development Bank Group partnered with the coalition of development finance institutions of the Global Green Bond Initiative. Both collaborated on technical assistance to promote Africa's green bond markets., In September 2023: The Inter-American Development Bank (IDB) partnered with the KfW Development Bank to Boost Green Bond Market Development. The Partnership gave IDB USD 2.15 million to support initiatives to create and advance best practices, guidelines, and financial tools to support the growth of the green bond markets in the Americas and the Caribbean.. Key drivers for this market are: Growing Number of Investors. Potential restraints include: Small Size of the Green Bond Market Compared to Traditional Bond Market. Notable trends are: Increasing Loans is Fuelling the Market.

The Europe Green Bonds Market would witness market growth of 9.1% CAGR during the forecast period (2024-2031). The Germany market dominated the Europe Green Bonds Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $99,239 million b

This paper employs event study methods to evaluate the effects of ECB's non-standard monetary policy program announcements on 10-year government bond yields of 11 euro area member states. Measurable effects of announcements arise with a one-day delay meaning that government bond markets take some time to react to ECB announcements. The country-specific extent of yield reduction seems inversely related to the solvency rating of the corresponding countries. The spread between core and periphery countries reduces because of a stronger decrease in the latter. This result is confirmed by letting the announcement variable interact with the current spread level.

The yield on Romania 10Y Bond Yield held steady at 7.60% on June 6, 2025. Over the past month, the yield has fallen by 0.50 points, though it remains 0.92 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. Romania 10-Year Government Bond Yield - values, historical data, forecasts and news - updated on June of 2025.

This paper expands the growing literature on common safe assets in the context of the euro area financial system by employing credit risk simulation techniques to investigate the properties of different safe asset models and their impact on national bond markets. The paper explores in particular the E-bonds model, whereby a supranational institution would raise funds in the markets and provide bilateral senior loans to Member States corresponding to a fixed proportion of GDP, complementing the issuance of national government bonds, without risks of mutualisation. The main findings are that E-bonds could reach a volume of 15 to 30% of euro area GDP with a high degree of safety while becoming the reference safe asset for the banking sector, capital markets and monetary policy operations in the euro area. As regards the impact on remaining national bonds, such volumes would be consistent with Germany maintaining its top credit rating. The average funding costs of Member States would remain broadly stable, while marginal funding costs would tend to experience limited increases, which should enhance market discipline.

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Fixed Income Assets Management Market Size 2025-2029

The fixed income assets management market size is forecast to increase by USD 9.16 tr at a CAGR of 6.3% between 2024 and 2029.

The market is experiencing significant growth, driven by increasing investor interest in fixed income securities as a hedge against market volatility. A key trend in this market is the expansion of bond Exchange-Traded Funds (ETFs), which offer investors liquidity, diversification, and cost savings. However, this market is not without risks. Transactions in fixed income assets involve complexities such as credit risk, interest rate risk, and liquidity risk, which require sophisticated risk management strategies. As global investors seek to capitalize on market opportunities and navigate these challenges effectively, they must stay informed of regulatory changes, market trends, and technological advancements. Companies that can provide innovative solutions for managing fixed income risks and optimizing returns will be well-positioned to succeed in this dynamic market.

What will be the Size of the Fixed Income Assets Management Market during the forecast period?

Request Free SampleThe fixed income assets market in the United States continues to be an essential component of investment portfolios for various official institutions and individual investors. With an expansive market size and growth, fixed income securities encompass various debt instruments, including corporate bonds and government treasuries. Interest rate fluctuations significantly impact this market, influencing investment decisions and affecting the returns from interest payments on these securities. Fixed income Exchange-Traded Funds (ETFs) and index managers have gained popularity due to their cost-effective and diversified investment options. However, the credit market volatility and associated default risk pose challenges for investors. In pursuit of financial goals, investors often choose fixed income funds over equities for their stable dividend income and tax savings benefits. Market risk and investors' risk tolerance are crucial factors in managing fixed income assets. Economic uncertainty and interest rate fluctuations necessitate active management by asset managers, hedge funds, and mutual funds. The fund maturity and investors' financial goals influence the choice between various fixed income securities, such as treasuries and loans. Despite the challenges, the market's direction remains positive, driven by the continuous demand for income-generating investments.

How is this Fixed Income Assets Management Industry segmented?

The fixed income assets management industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD tr' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. TypeCoreAlternativeEnd-userEnterprisesIndividualsGeographyNorth AmericaUSCanadaEuropeFranceGermanyItalyUKAPACChinaIndiaJapanSouth KoreaSouth AmericaMiddle East and Africa

By Type Insights

The core segment is estimated to witness significant growth during the forecast period.The fixed income asset management market encompasses a diverse range of investment vehicles, including index investing, pension funds, official institutions, mutual funds, investment advisory services, and hedge funds. This asset class caters to income holders with varying risk tolerances, offering securities such as municipal bonds, government bonds, and high yield bonds through asset management firms. Institutional investors, insurance companies, and corporations also play significant roles in this sector. Fixed income securities, including Treasuries, municipal bonds, corporate bonds, and debt securities, provide regular interest payments and can offer tax savings, making them attractive for investors with financial goals. However, liquidity issues and credit market volatility can pose challenges. The Federal Reserve's interest rate decisions and economic uncertainty also impact the fixed income market. Asset management firms employ various strategies, such as the core fixed income (CFI) strategy, which invests in a mix of investment-grade fixed-income securities. CFI strategies aim to deliver consistent performance by carefully managing portfolios, considering issuer creditworthiness, maturity, and jurisdiction. Fixed income funds, including government bonds and corporate bonds, offer lower market risk compared to equities. Investors can choose from various investment vehicles, including mutual funds, ETFs, and index funds managed by active managers or index managers. Fixed income ETFs, in particular, provide investors with the benefits of ETFs, such as liquidity and transparency, while offering exposure to the fixed income market. Despite market risks and liquidity issues, the fixed income asset management market continues to be