According to data from financial analysis company Crisil Coalition Greenwich, February was the busiest month in the history of the US Treasury bond market. The uncertainty surrounding Trump's tariff policies and the increased bets on interest rate cuts from the Federal Reserve boosted trading volume. The company's Market Structure Research Director, Kevin McPartland, wrote in the report: "Will they raise tariffs? The unexpected inflation and the resurgence of rate cut expectations kept investors and traders busy." The average daily nominal trading volume of US Treasury bonds in February was 1.068 trillion USD, a year-on-year increase of 16%, exceeding August 2024 to become the most active month on record. February 28 surpassed October 31 to become the busiest day ever.