The German Bundesbank published its June 2025 securities market statistics, showing gross issuance on the German bond market of EUR 143.9 billion and a net increase in the amount of debt securities outstanding in Germany of EUR 84.1 billion. Domestic debt securities outstanding rose by EUR 53.7 billion, and foreign debt securities were placed on the German market for a net EUR 30.3 billion. By issuer, the public sector increased bond market liabilities only slightly net (EUR 0.9 billion), with the federal government’s net issuance concentrated in five-year notes (EUR 5.0 billion), ten-year bonds (EUR 4.5 billion) and 30-year bonds (EUR 3.3 billion), partly offset by net redemptions of two-year Treasury notes (EUR 9.7 billion) and zero-coupon Bubills (EUR 2.0 billion); states and municipalities redeemed a net EUR 0.4 billion. Credit institutions issued a net EUR 6.3 billion, mainly other bank bonds (EUR 6.6 billion), alongside smaller volumes of mortgage Pfandbriefe (EUR 1.0 billion) and public Pfandbriefe (EUR 0.7 billion), while specialised credit institutions reduced capital market debt by EUR 2.0 billion. Domestic enterprises issued a net EUR 46.5 billion, driven by other financial institutions (EUR 30.6 billion) and non-financial corporations (EUR 15.5 billion). On the demand side, domestic non-banks bought domestic bonds for a net EUR 53.7 billion, with additional net purchases by domestic banks (EUR 24.1 billion) and non-resident investors (EUR 15.8 billion); the Bundesbank’s bond holdings fell by a net EUR 9.5 billion, mainly due to maturing positions from Eurosystem purchase programmes. In equities, new shares issued totalled EUR 5.1 billion and the amount of foreign shares outstanding in Germany rose by EUR 4.1 billion, while domestic non-banks (EUR 8.6 billion) and domestic banks (EUR 2.0 billion) were net buyers and foreign investors were net sellers (EUR 1.4 billion). Domestic investment funds recorded net inflows of EUR 2.3 billion (retail funds +EUR 3.3 billion; special funds -EUR 0.9 billion), and foreign fund companies active in the German market saw inflows of EUR 10.7 billion.
German Bundesbank 2025-08-12
German Bundesbank reports June 2025 net bond sales with debt securities outstanding in Germany up EUR 84.1 billion
The German Bundesbank's June 2025 securities market statistics show a gross issuance of EUR 143.9 billion in the German bond market, with a net increase of EUR 84.1 billion in debt securities outstanding. Domestic enterprises led net issuance with EUR 46.5 billion, while domestic non-banks were the largest net buyers of domestic bonds at EUR 53.7 billion. In equities, new shares issued amounted to EUR 5.1 billion, with domestic non-banks and banks as net buyers, while foreign investors were net sellers.