Average Daily Trading Volume in U.S. Bond Markets (2001-2011)					
Billions of Dollars					
 	Treasury securities	Agency mortgage-backed securities	Corporate debt	Federal agency securities	Municipal bonds
2001	297.9	112.0	-	90.2	8.8
2002	366.4	154.5	17.8	81.8	10.7
2003	433.5	206.0	18.0	81.7	12.6
2004	499.0	207.4	17.3	78.8	14.8
2005	554.5	251.8	16.6	78.8	16.9
2006	524.7	254.6	16.9	74.4	22.5
2007	570.2	320.1	16.4	83.0	25.1
2008	553.1	344.9	14.3	104.5	19.4
2009	407.9	299.9	19.9	77.7	12.5
2010	528.2	320.6	20.5	71.5	13.3
2011	567.8	250.0	20.6	53.0	11.3
					
Source : Securities Industry and Financial Markets Association (SIFMA )     					
"Notes: The data refers to primary dealer activity for Treasury securities, federal agency securities, and agency mortgage-backed securities. "					
"For corporate debt, the data excludes maturities of one year or less and convertible securities"