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Executive Summary

U.S. Treasury markets had their second busiest month of 2021 in October, with average daily volume (ADV) up 42% from October of 2020 and up 30% from the month before. The reasons for the activity remain the same: the Fed, the pandemic and the Fed.

Methodology

Coalition Greenwich continuously gathers data and insights from U.S. Treasury market participants, including asset managers, hedge funds, primary dealers, market makers, and trading platforms. The data, once aggregated, normalized and enhanced, is analyzed by our market structure research team who identify key areas of change and the likely direction of volume, holdings, market share, and other trends in the coming months.