U.S. Treasuries trade at record high in February: research house

February was the busiest month ever for the U.S. Treasury market, with uncertainty surrounding Trump's tariff policies and increased bets on a Federal Reserve interest rate cut boosting trading volumes, according to financial analytics firm Crisil Coalition Greenwich. Kevin McPartland, the firm's head of market structure research, wrote in the report, ‘A resurgence in expectations of whether they will or won't raise tariffs, inflation surprises and rate cuts kept investors and traders busy.’ The average daily nominal volume of U.S. Treasuries was $1.068 trillion in February, up 16 per cent from a year earlier, surpassing August 2024 to become the most active month on record. 28 February surpassed 31 October to become the busiest day on record.