UBS
Report published August 26, 2026
SBI Swiss Bond Index: September 2026 Rebalancing Analysis
Source and citation context
- Issuer
- UBS
- Report date
- August 26, 2026
- Analysis as of
- August 25, 2026
Authors / editors: Alexandra Bossert (Analyst)
Finvaulta summarizes UBS's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Monthly UpdateRates CreditRates Govt BondsFinancialsOther
The September 2026 rebalancing of the Swiss Bond Index (SBI Total AAA-BBB) points to a modest duration extension of approximately 0.04 years. The increase is driven by Domestic Non-Government corporate issuance and active foreign CHF supply, with Canton of Luzern upgraded to AAA.
Key Takeaways
- 1.The upcoming 1 September rebalancing of the SBI Total AAA-BBB index is expected to result in a modest duration extension of approximately 0.04 years.
- 2.Domestic duration lengthening was driven entirely by Domestic Non-Government (DN) issuance of CHF 4.2bn (including CHF 975mn from Roche) against CHF 3.1bn in deletions, while Domestic Government supply was absent in August.
- 3.In the foreign CHF bond segment, Foreign Corporate grew by CHF 960mn net nominal, Foreign Supranational expanded by CHF 380mn (driving a sharp duration increase), and Foreign Government expanded by CHF 370mn.
Table of Contents
- SBI Total AAA-BBB
- SBI Total AAA-BBB 1-15
- SBI Swiss bond indices
- Corporate bond yields across currencies
- UBS Swiss credit coverage
- UBS CIO risk views
- UBS CIO valuation views
- Appendix
Report data
SBI-relevant rating changes — as of August 25, 2026.
| Metric | Estimate | Context |
|---|---|---|
| SBI Total AAA-BBB duration extension | 0.04 years | Calculated duration change for the Swiss Bond Index Total AAA-BBB rebalancing effective 1 September 2026. |
| Domestic Non-Government issuance | 4.2 CHF billion | High-grade and corporate issuance in the Domestic Non-Government sub-segment. |
| Domestic Non-Government deletions | -3.1 CHF billion | Deletions from the Domestic Non-Government sub-segment in the September rebalancing. |
| Foreign Corporate net nominal growth | 960 CHF million | Net nominal expansion of Foreign Corporate bonds in the CHF bond index. |
| Foreign Supranational expansion | 380 CHF million | Expansion in the Foreign Supranational sub-segment, causing a sharp duration rise. |
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Authors / Editors
Alexandra Bossert · Analyst
Reported Data Context
- SBI Total AAA-BBB duration extension: 0.04 years (2026-09-01) · Source: SIX Index, UBS
- Domestic Non-Government issuance: 4.2 CHF billion (August 2026) · Source: SIX Index, UBS
- Domestic Non-Government deletions: -3.1 CHF billion (August 2026) · Source: SIX Index, UBS
- Foreign Corporate net nominal growth: 960 CHF million (August 2026) · Source: SIX Index, UBS
- Foreign Supranational expansion: 380 CHF million (August 2026) · Source: SIX Index, UBS
Securities
ROG.SSwiss Bond Index Total AAA-BBBLUCERN
Themes
Swiss Bond Index Rebalancing & Duration ShiftsCHF Corporate & Foreign Primary Issuance
Regions
EuropeSwitzerland