Methodology

Confidence is growing.

Barriers remain.

Our survey uncovers the reality.

As Europe’s fixed income markets mature, new complexities are emerging.

ETFs have moved from niche to mainstream, mini-bonds are testing the limits of accessibility and regulation, and liquidity challenges are being reshaped by technology, regulation, and macro uncertainty.

This makes 2026 a decisive moment to assess how leaders are adapting.

To explore these dynamics, we surveyed 100 senior buy-side professionals from across Europe. Respondents included Heads of Trading, Heads of Fixed Income, Portfolio Managers, and CIOs - the individuals responsible for both execution and strategic direction.

The survey focused on three areas:

ETFs and Independent Pricing – the role of ETFs in liquidity management and the demand for unbiased analytics.
Mini-Bonds – readiness, barriers, and the innovations most likely to unlock growth.
Navigating Risks & Liquidity – macro headwinds, liquidity sourcing strategies, and portfolio adaptations.

By capturing the perspectives of decision-makers at the heart of European fixed income, this research highlights not only where progress is being made, but also where challenges remain. The Playbook builds on those insights, offering both a snapshot of current market sentiment and a guide to the opportunities and risks that lie ahead.