Unraveling the early universe's equation of state and primordial black hole production with PTA, BBN, and CMB observations

Pulsar timing array (PTA) data releases showed strong evidence for a stochastic gravitational-wave background in the nanohertz band. When the signal is interpreted by a scenario of scalar-induced gravitational waves (SIGWs), we encounter overproduction of primordial black holes (PBHs). We wonder if varying the equation of state (EoS) of the early Universe can resolve this issue and thereby lead to a consistent interpretation of the PTA data. Analyzing a data combination of PTA, big-bang nucleosynthesis, and cosmic microwave background, we find that an epoch with EoS w(10⁻²) between the end of inflation and the onset of radiation domination can significantly suppress the production of PBHs, leading to alleviation of the PBH-overproduction issue. With the inferred interval w=0.44-0.40+0.52 at 95% confidence level, our scenario can interpret the PTA data just as well as the conventional scenario of SIGWs produced during the radiation domination.