Since returning to office in January 2025, U.S. President Donald Trump has purchased over $103 million worth of corporate, state, and municipal bonds, according to filings from the Office of Government Ethics. These purchases encompass nearly 700 transactions made between January 21 and August 1, involving bonds issued by companies such as UnitedHealth Group, T-Mobile, Home Depot, Meta, Qualcomm, Wells Fargo, and Citigroup, as well as local governments and school boards. The bond acquisitions began the day after his inauguration and have raised questions about potential conflicts of interest, especially given that some bonds are from entities affected by his administration's policies. Reports also note that Trump was charged a late fee for filing disclosures beyond the required 45-day period. Observers have pointed out that the president's bond buying spree coincides with his public calls for Federal Reserve interest rate cuts, which would typically increase bond prices and potentially benefit his investment portfolio.