German bond market

The German bond market is divided into bonds from public issuers, credit institutions and domestic industrial companies.

Public issuers

This includes the federal government, special funds of the federal government as well as states and municipalities. The German Rentenindex measures the performance of government bonds .

Credit institutions

This area makes up about half of the volume. This includes:

• Private and public real estate credit institutions ( mortgage banks )
• Landesbanken
• Credit banks
• Credit institutions with special tasks (e.g. KfW )

Domestic industrial companies

Due to the high level of direct financing through borrower's note loans from credit institutions and insurance companies, there are relatively few corporate bonds on the German market.

Foreign issuers are also active on the German market.