We look at exposures by asset class and underlying as well as payoff types and investment terms in the French market in 2024.
From an underlying type perspective, the French market was heavily skewed towards interest rate-linked exposure which saw a pick-up during the first quarter of 2024 but returned to the levels seen over the last three years. Decrement underlyings continue to be on high demand in the French market and seems to be eating up market share from traditional market cap benchmarks Exposure to indices featuring decrement overlays picked up towards the end of the year on the back of consistent issuance