Global Rates Supply Outlook Issuance and cash flows for the weeks ahead

Research evidence excerpt

Global Rates Supply Outlook Issuance and cash flows for the weeks ahead

Fixed Income ● Rates

22 June 2026

Disclaimer

Legal entities as at 13 May 2026: Issuer of report

HSBC Bank plc; HSBC Continental Europe; HSBC Continental Europe SA, Germany; HSBC Bank Middle East HSBC Securities and Capital Markets (India) Private Limited

Limited, DIFC; HSBC Bank Middle East Limited, Dubai branch; HSBC Yatirim Menkul Degerler AS, Istanbul; The Registered Office

Hongkong and Shanghai Banking Corporation Limited, Hong Kong; The Hongkong and Shanghai Banking 52/60 Mahatma Gandhi Road

Corporation Limited, Singapore Branch; The Hongkong and Shanghai Banking Corporation Limited, Seoul Fort, Mumbai 400 001, India

Securities Branch; The Hongkong and Shanghai Banking Corporation Limited, Seoul Branch; HSBC Qianhai Telephone: +91 22 2267 4921

Securities Limited; HSBC Securities (Taiwan) Corporation Limited; HSBC Securities and Capital Markets (India) Fax: +91 22 2263 1983

Private Limited, Mumbai; HSBC Bank Australia Limited; HSBC Securities (USA) Inc., New York; HSBC México, SA, Website: www.research.hsbc.com

Institución de Banca Múltiple, Grupo Financiero HSBC; Banco HSBC SA SEBI Reg. No. INH000001287

CIN: U67120MH1994PTC081575

This document has been issued by HSBC Securities and Capital Markets (India) Private Limited ("HSBC") for the information of its customers only. HSBC Securities and Capital Markets (India)

Private Limited is registered as "Research Analyst" (Reg. No. INH000001287), Merchant Banker (Reg. No. INM000010353) and Stock Broker (Uniform Reg. No. INZ000234533) and regulated

by the Securities and Exchange Board of India. If it is received by a customer of an affiliate of HSBC, its provision to the recipient is subject to the terms of business in place between the recipient