The present work deals with the global stability analysis of the flow in a 90◦-bend pipe with curvature δ = R/Rc = 0.3, being R the radius of the cross-section of the pipe and Rc the radius of curvature at the pipe centreline. Direct numerical simulations (DNS) for values of the bulk Reynolds number Reb = U-------D/v between 2000 and 3000 are performed. The bulk Reynolds number is based on the bulk velocity Ub, the pipe diameter D, and the kinematic viscosity ν. It is found that the flow is steady for Reb ≤ 2500, and two pairs of symmetric, counter-rotating vortices are observed in the section of the pipe downstream of the bend. Moreover, two recirculation regions are present inside the bend, one on the outer wall and the other on the inner one. For Reb ≥ 2550, the flow becomes periodic, oscillating with a fundamental non-dimensional frequency St = fD/Ub = 0.23. A global stability analysis reveals a pair of complex conjugate eigenvalues with positive real part. The velocity components of the unstable direct and adjoint eigenmodes are investigated, and it is observed that a large spatial separation occurs because of the non-normality of the linearised Navier–Stokes operator. Thus, an analysis of the structural sensitivity of the unstable eigenmode to spatially localised feedbacks is performed, in order to identify the core of the instability, the so-called wavemaker. It is found that the region located 15° downstream of the bend inlet, on the outer wall, is where the instability originates. Since flow separation is observed in this region, it is concluded that the instability is linked with the strong shear by the backflow phenomena.