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Executive Summary

Bonds continue to prove they are anything but boring. The average daily notional volume (ADNV) traded in February—$45 billion—was up 22% from February 2022, surpassed the volume traded in March 2020 and came ever so close to the record set in April 2020.

Methodology

Coalition Greenwich continuously gathers data and insights from credit market participants, including market makers, primary dealers and trading platforms. The data, once aggregated, normalized and enhanced, is analyzed by our market structure research team who identify the key trends of trading in the credit markets, with a focus on corporate bond electronic trading and trading platform market share.