Electronic trading in US rates dropped by five percentage points year-on-year (YoY) but rose by two percentage points month-on-month (MoM), representing 57% of total volumes in November.
This marks a return to levels seen at the start of 2025, Coalition Greenwich analysts Kevin McPartland and Neha Jain note in a recent report.
Within the dealer-to-client sector, 63% was traded electronically – down two percentage points YoY, and remaining static MoM.
Average daily notional volumes jumped 8% YoY to US$1.025 trillion, driven by an eventful month that saw the end of the US government shutdown and the provision of delayed economic data.
Volatility fell 28% YoY to 88.14, which Coalition Greenwich suggests supported increased automated and electronic trading.
©Markets Media Europe 2025
