Trading in municipal bonds grew in 2025 for the first time in three years, up nearly 14% year over year with the average daily notional volume (ADNV) traded reaching nearly $15 billion per day—a record.
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U.S. Treasury trading in 2025 by the numbers
MarketView
U.S. Treasury trading in 2025 was defined by record volumes and the lowest average volatility since 2021.
New
U.S. corporate bond trading averaged over $50 billion per day in 2025 for the first time ever, improving 11% from its previous record in 2024.
U.S. corporate bond trading in 2025 is on pace to reach a full-year average of over $50 billion per day for the first time ever, supported by record new issuance activity that has surpassed the previous annual record even before December’s numbers...
Are we ready for T+0 settlement?
Greenwich Report
Are we ready for T+0? The go-live date to T+1 advanced settlement of securities came and went and was mostly uneventful in the U.S. While the rest of the globe is preparing for similar settlement times, many capital markets professionals are already...
The U.S. Treasury market capped off its summer with the lowest average monthly volatility reading since December 2021 and a decline of 27% from last August—a sign that the previous cycle is truly coming to an end.
India’s capital markets: From potential to powerhouse
Greenwich Report
India’s capital markets have exhibited exceptional growth over the past two years, defying global headwinds. Record equity trading volumes and bond market participation have been fueled by rising domestic investor engagement and improved market...
Market data in the age of AI
Greenwich Report
Crisil Coalition Greenwich, in partnership with SIX for the third consecutive year, conducted an in-depth study of 50 global buy-side firms to uncover the latest trends and innovations in market data consumption, distribution and technology adoption...