U.S. corporate bond investors on growth, e-trading and ETFs

U.S. corporate bond market included interviews with 145 traders and portfolio managers at asset managers, hedge funds and insurance companies. The results create a picture of increased automation and electronic trading to handle volume growth, expectations for trading volume to continue its upward trend, and the continued importance of portfolio trading and exchange-traded funds (ETFs) for corporate bond traders. Here we examine those responses in detail to paint a picture of the buy-side trading desk’s evolution and where it will go from here.

In Q2 and Q3 2025, Crisil Coalition Greenwich interviewed 145 U.S. corporate bond traders in the United States. This group included investment-grade and high-yield bond traders at asset managers, hedge funds and insurance companies. Topics covered included dealer relationships, trading habits, views on market structure, and expectations for the years ahead.