In the second part of our Europe market analysis, we look at the product type mix and the payoffs which have driven activity in the third quarter of 2024.
Our analysis shows that yield enhancement products have dominated the market, driven by Switzerland’s preference for income-generating products. In Q3 2024, yield enhancement products reached their highest market share (69%), showing consistent growth from the 54% seen in Q1. Products with capital protection, while significant, declined steadily: from 40% in Q1 2023 to 29% in Q3 2024. Participation products and products with reference entities (credit-linked notes or CLNs) both account fo