Economic slump, tumbling share prices and financial scandals have left Wall Street bloodied and cowed. Yet amid the despondency, there is one sector of the market currently enjoying a revival: government bond trading.

“There is much more of a story now with Treasuries,” said Dan Orlando, head of Treasury trading at Deutsche Bank. “Clients who shied away from the Treasury market in 2005 and 2006 towards structured products have returned.”