A Bigger Round Of Dutch Pension Transitions Puts Curve Steepening Back In Play
ING Economic and Financial Analysis
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2026-06-25
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via All Articles on Seeking Alpha
Summary
- More than €900bn in Dutch pension assets are planning to transition in 2027, significantly more than the €600bn in 2026.
- Last year’s transition moved the 10s30s EUR swap curve by around 10-20 bp, and markets could start to feel similar pressure again in the months ahead.
- With even more assets scheduled to transition in 2027, we think the curve could see similar steepener pressures as in the second half of 2025.
Zolak/iStock via Getty Images
By Michiel Tukker
Markets digested the first batch well, but much more to come
More than €900bn of Dutch pension fund assets should transition in 2027, which could start making a mark on longer-dated rates in the
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