Review 2025 | Outlook 2026

Review 2025 | Outlook 2026

Big Themes

Digital tide laps at shore of the bond market

Data centre boom offers acid test for Europe’s capital markets

Capital markets feel the touch of AI’s tentacles

Rejuvenated European banking sector driven to still more M&A in 2026

Credit issuers add new flavours to growing Australian dollar bond market

The GlobalCapital survey of heads of debt capital markets

Deals of the Year

Bond Deals of the Year: Public sector borrowers — Debuts and derring-do define SSAs

Bond Deals of the Year: Financial institutions — FIG issuers find new ways into old markets

Bond Deals of the Year: Investment grade corporates — Corporate issuers go hyperscale

Bond Deals of the Year: Emerging markets — Best bonds of a big bunch

Public Sector Borrowers

SSA issuers tipped to frontload once more as funding needs ramp up

SSAs flex pricing power in benchmark markets with lower new issue premiums

SSA issuers adapt to funding in new spread landscape as bond market evolves

The EU: bloc’s SAFE asset adds defence to jumbo programme

Financial Institutions

FIG primary issuance to go one better after phenomenal 2025 but widening looms

FIG issuers crush new issue premia as credit bid rips

Busy covered issuers to navigate tight market in 2026

Covered books bulge despite dwindling new issue concessions

Securitization

European ABS on its feet and ready for more in 2026

European CLO investors face up to tiering amid turbulent loan market

Chronic engine and aircraft shortages to help US aviation ABS to soar in 2026

Office pace: Manhattan prime real estate drives US CMBS mart with new asset classes set to join

Corporate Debt

Wider spreads and belly bid in sight as corporate bond market resets for 2026

Euros run hot as corporate issuers lock in tight funding

Rising M&A tide to lift syndicated loan market in face of tech and private credit challenges

GlobalCapital announces nominees for Syndicated Loan and Private Debt Awards

Emerging Markets

CEEMEA bond market readies to go still further after record year

New issue premiums get crushed in CEEMEA bond, sukuk issuance stampede

Viva la fiesta: LatAm mart awaits primary afterparty after record year for bonds

Equity Capital Markets

‘Real improvement in ECM quality and scale’ after US tariffs as buyers engage

Medium Term Notes

Asia rises on MTN agenda while public market pressure predicted to grow in 2026

Sponsored content

Breaking down barriers: how Tradeweb is rewiring global markets

Capital without boundaries: The structures shaping securitization’s next phase

Sukuk market’s next chapter: Financing the future, sustainably

Building competitiveness and modernisation in the bond mart and Germany

AIIB: Panda market penetration to Wonton bond innovation

HSF Kramer: The new transatlantic force in securitization

Numerix: Yield demand, discipline and AI set the tone for structured finance

Standard Chartered brings global reach to the developed markets

SEB and TRATON: Financing the clean transport transition

Unlocking Middle Eastern liquidity: New pathways for global issuers