The country's structured products market cooled in the second quarter of 2026 after a record start to the year, with lower issuance and sales volumes offset by changes in the product mix.
Following a record first quarter for issuance, the German structured products market settled into a more moderate pace in Q2 2026. Sales fell to €4.65 billion and issuance eased to 9,020 products, although activity remained well above levels seen in most previous quarters. Average sales per product remained unchanged at €0.52m. While overall market activity softened, the quarter brought several notable changes in product composition. Interest rate-linked structures regained some groun