Introduction & Methodology
A Fixed Income Market in Transition
Fixed income markets are entering a period where improving liquidity, rapid technological development and persistent macroeconomic uncertainty are unfolding at the same time.
Liquidity conditions are moving in a positive direction, yet fragmentation continues to complicate execution. AI is opening new possibilities across trading and investment workflows, while the quality and integration of the data underpinning those capabilities remains a significant challenge. At the portfolio level, interest rates, geopolitical risk, inflation and currency volatility are creating an environment where investors need to prepare for a wider range of outcomes.
These forces are increasingly interconnected. How effectively firms discover liquidity depends on the quality of information available to them. The potential of AI rests heavily on the infrastructure and data supporting it. And as markets become faster and more technology-enabled, investment teams still need to exercise judgement through periods of volatility and uncertainty.
To understand how the industry is responding, Fixed Income Leaders Insights surveyed 100 senior fixed income professionals from firms across Europe.
The research explores three areas shaping the next phase of the market. These are liquidity and market structure, AI and digital infrastructure, and portfolio strategy through an uncertain macro cycle. Across these themes, we examine where conditions are improving, where friction remains and what leaders are prioritising as they prepare their trading and investment capabilities for 2030.
Who We Surveyed
The research brings together perspectives from senior decision-makers responsible for fixed income trading and investment across Europe.
Industries
Job Titles
Asset managers account for 60% of respondents, alongside hedge funds (30%) and private banks (10%). Half of those surveyed are Heads or Directors of Fixed Income, with the remaining sample spanning senior leaders across derivatives, credit, emerging markets, bonds and rates, as well as fixed income portfolio management.
Respondents are based across seven major European markets. The UK represents 40% of the sample, with additional perspectives from France, Germany, Italy, Switzerland, the Netherlands and the Nordics.
This mix provides a view of the market from professionals directly responsible for navigating changes in liquidity, execution, technology and portfolio strategy.
Methodology
The survey was conducted with 100 senior fixed income professionals from asset managers, hedge funds and private banks across Europe.
Asset managers account for 60% of respondents, alongside hedge funds (30%) and private banks (10%).
Half of those surveyed are Heads or Directors of Fixed Income, with the remaining sample spanning senior leaders across derivatives, credit, emerging markets, bonds and rates, as well as fixed income portfolio management.
Respondents are based across seven major European markets. The United Kingdom represents 40% of the sample, with additional perspectives from France, Germany, Italy, Switzerland, the Netherlands and the Nordics.
This mix provides a view of the market from professionals directly responsible for navigating changes in liquidity, execution, technology and portfolio strategy.
