According to online reports, February was the busiest month on record for the U.S. Treasury bond market, according to financial analysis firm Crisil Coalition Greenwich. Uncertainty surrounding Trump's tariff policy and increased Fed interest rate cuts boosted trading volume. "Whether they will add tariffs, inflation surprises and a recovery in interest rate cuts keeps investors and traders busy," Kevin McPartland, the company's director of market structure research, wrote in the report. The average daily nominal trading volume of U.S. Treasury bonds in February was US$1.068 trillion, a year-on-year increase of 16%, surpassing August 2024 as the most active month on record. February 28 overtook October 31 to become the busiest day on record.