While 2026 has seen a sharp rise in government yields, European primary issuance has reached record highs year-to-date.
Hyper-scalers are tapping the euro market, governments are raising defence spending and political uncertainty in France may induce issuers to pre-fund ahead of April's presidential election.
Competition for supply in the form of AI capex, defence and clean energy is also putting pressure on new issuance markets.
So where will 2027’s pressure points lie, and how should investors position themselves?
Join 9fin's IG reporter Alex Kozul-Wright, Song Jin Lee, global head of credit strategy at HSBC, Giulio Baratta, global co-head of IG finance at BNP Paribas, and Marco Baldini, global co-head of IG syndicate at Barclays, as they unpack this year’s trends, as well as what issuers and investors can expect to see in the next 12 months.
They will cover:
- If higher yields are now a given, what does that mean for issuance, particularly for corporates?
- Whether a solid earnings backdrop justifies spread valuations, or whether complacency is the bigger risk?
- Whether the market can absorb AI infrastructure, defence and green transition funding simultaneously, especially if government borrowing costs stay elevated?
- Whether French pre-funding ahead of April's election could distort Q4 supply in Europe, and what else might upset the usual year-end slowdown?
- Date: Wednesday 4th November 2026
- Time: 2:00pm GMT
- Online
Speakers
- Alex Kozul-Wright, IG reporter, 9fin (moderator)
- Song Jin Lee, HSBC, global head of credit strategy
- Giulio Baratta, BNP Paribas, global co-head of IG finance
- Marco Baldini, Barclays, global co-head of Investment Grade syndicate
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