The surveys show that the most senior debt capital markets bankers appear optimistic heading into 2026, with upbeat expectations for volumes, pay and hiring, alongside questions around how technology is reforming the business. They also examine how SSA issuers raised large amounts of funding in 2025 despite US tariffs, greater sovereign borrowing needs and political upheaval, and why 2026 is likely to become even more crowded.

Across other markets, the surveys explore how the European FIG market benefited from high demand for credit in 2025, while anticipation mounts that spreads will widen in 2026. Covered bond funders are shown preparing to navigate tight senior unsecured and wide SSA spreads as they refinance a wave of redemptions, while the corporate bond market resets after a booming year, with investors bracing to pay higher premiums and shift to the belly of the curve.

The collection also covers syndicated loans, where bankers say technology-sector investment could make 2026 a more “meaningful year”, as well as outlooks for CEEMEA and Latin America following record-breaking issuance years. Further surveys assess equity capital markets after early volatility, changing dynamics in MTN issuance, and European structured finance, including ABS markets set for new deal types and debut issuers, and CLO markets facing tiering amid leveraged loan market volatility.