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Germany's debt issuance plan unchanged for Q2, says finance agency

Published by Global Banking & Finance Review

Posted on March 23, 2026

2 min read

· Last updated: April 1, 2026

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BERLIN, March 23 (Reuters) - Germany's debt issuance plan for the second quarter of 2026 remains unchanged from its December forecast, the Federal Finance Agency said on Monday. Under the existing

Germany's debt issuance plan unchanged for Q2, says finance agency

Overview of Germany's Debt Issuance Plan for Q2 2026

Q2 2026 Debt Issuance Details

BERLIN, March 23 (Reuters) - Germany's debt issuance plan for the second quarter of 2026 remains unchanged from its December forecast, the Federal Finance Agency said on Monday.

In the second quarter, the agency responsible for Germany's debt plans to raise 115.5 billion euros ($133.15 billion) through the sale of federal bonds to investors, it said.

Annual Issuance Targets and Government Strategy

Under the existing plan, the government intends to issue a record-high sum of around 512 billion euros ($600 billion) in securities this year due to increased debt-financed investments in infrastructure and defence.

Agency Statement on Market Reliability

"The federal government plans to execute the planned issuance to the largest extent possible in order to provide market participants with a reliable orientation for their investment decisions," said the agency in a statement.

Market Reactions and Bond Yields

The sell-off in government bonds in response to the Iran war has driven up yields in recent weeks. German 10-year government bond yields hit their highest since the euro zone crisis in 2011 on Friday.

Germany's Credit Rating and Investor Demand

Germany is a sought-after issuer due to its AAA credit rating from the major rating agencies, which signals an extremely low default risk.

Future Updates and Currency Information

The agency said the next update or confirmation of its issuance plan for the third quarter will be published in June.

($1 = 0.8675 euros)

(Reporting by Rene Wagner, writing by Miranda Murray, editing by Thomas Seythal)

Key Takeaways

  • Q2 issuance plan unchanged—no revisions since December forecast
  • Record-high 2026 issuance of ~€512 billion overall
  • Next issuance update for Q3 scheduled for June 2026

References

Frequently Asked Questions

What is Germany's debt issuance plan for Q2 2026?
Germany's debt issuance plan for the second quarter of 2026 remains unchanged from its December forecast, aiming for around 512 billion euros in securities for the year.
How much does Germany plan to raise on the capital market in 2026?
Germany aims to raise 318 billion euros on the capital market in 2026 through auctions.
How much will Germany seek to raise on the money market?
Germany plans to raise a further 176 billion euros on the money market in 2026, also via auctions.
When will the next update on Germany's debt issuance plan be published?
The next update or confirmation of Germany's debt issuance plan for the third quarter will be published in June.

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