
Following sharp declines on the stock markets and a sharp rise in energy prices, the situation on the stock exchanges has calmed down somewhat for the time being. Overall, buying interest continues to prevail.
March 10, 2026. FRANKFURT (Deutsche Börse). In a highly volatile market environment, the majority of investors have been buying in recent days. “With significantly higher turnover, we had around 20 percent more purchases than sales,” emphasizes Holger Heinrich of Baader Bank AG. Frank Mohr of Société Générale speaks of “exceptionally high turnover” and a “slight buying surplus.”
Strong demand for equity index funds
Equity ETFs are at the top of the shopping list. Mohr sees an above-average share of around 80 percent of the total transaction volume here. Two-thirds of this is accounted for by global and US index funds. “In such market phases, it is very common for the major indices to be traded more frequently.” The main purchases are the MSCI World ETFs from iShares and Amundi (IE00B4L5Y983 and <LU1737652237>) and the Vanguard S&P 500 (IE00B3XXRP09). According to Mohr, there are more sales for the iShares Nasdaq-100 (IE00B53SZB19).
Heinrich reports purchases of the UBS MSCI ACWI Socially Responsible (IE00BDR55471) and the VanEck World Equal Weight Screened (NL0010408704). On the sell side, the iShares Dow Jones Global Titans 50 (DE000A2QP4C4) and the Xtrackers MSCI World EUR Hedged (IE000ONQ3X90) were reduced.
Oil and gas remain the big issue
Away from the major standard indices, the Iran conflict continues to focus attention on companies in the energy sector. Heinrich reports strong demand for WisdomTree WTI Crude Oil (GB00B15KXV33), iShares Oil & Gas Exploration & Production (IE00B6R51Z18), and iShares STOXX Europe 600 Oil and Gas (DE000A0H08M3). All three index funds have risen significantly in recent days.
In this context, Mohr mentions the iShares MSCI World Energy Sector (IE00BJ5JP105) and the State Street SPDR S&P U.S. ENERGY SELECT SECTOR (IE00BWBXM492), which are also being bought by the majority.
ICF Bank customers are primarily turning to leveraged products for oil and gas. The WisdomTree WTI Crude Oil 3x Daily Leveraged (IE00BMTM6B32) and the WisdomTree Natural Gas 3x Daily Leveraged (XS2819843900) are particularly sought after, as Ivo Orlemann reports. The unleveraged WisdomTree Brent Crude Oil (JE00B78CGV99) is also on the shopping list.

Ivo Orlemann
The “evergreens” continue to be bought
Among industry ETFs, the evergreens from the armaments/defense sector remain in demand. Orlemann mentions VanEck Defense (IE000YYE6WK5) and WisdomTree Europe Defense (IE0002Y8CX98) here. Mohr reports continued high sales in technology index funds, but notes a slight sales surplus. Sales of the iShares S&P 500 Information Technology Sector (IE00B3WJKG14) are particularly striking.
Focus on money market and bond ETFs
The bond segment is clearly dominated by money market ETFs, which are often used as a substitute for fixed-term deposits. While JPM EUR Ultra-Short Income Active is being “sold in large quantities” according to Mohr, Xtrackers II USD Overnight Rate Swap (LU0321465469) and Xtrackers II EUR Overnight Rate Swap (LU0290358497) are attracting more buyers. The Amundi Euro Government Bond 7-10Y (LU1287023185), which is composed of longer-term bonds, is also in demand. This fund has seen relatively sharp price declines over the past two weeks as yields have risen. The same applies to the State Street SPDR Bloomberg Emerging Markets Local Bond USD (IE00BK8JH525), which, however, is now being sold off.


By Thomas Koch, March 10, 2026, © Deutsche Börse AG
Thomas Koch is a CEFA investment analyst, investment specialist for structured products, and certified certificate advisor. Since early 2006, he has been covering capital market events as a freelance journalist.
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