Articles by Ben St. Clair
PGGM sees a chance to diversify with fourth-trigger CDSs
Dutch pension manager hopes bank demand will continue to grow for derivatives counterparty credit protection
Big investors turn to off-exchange prediction markets
Millions of OTC event contracts are being traded monthly, with individual deals as big as $10 million
Cuts and points – how the Dealer Rankings work
Dealer Rankings 2026: We have a simple way to compare dealers. Sort of simple, anyway
US housing law delivers good news for insurers
Congress added curbs to institutional property ownership; insurers are more interested in the underlying loans
Fourth-trigger CDS market weighs going blind
Dealers see benefit of undisclosed, replenishable pools – but not everyone is convinced
MSIM retools renminbi options wager
Counterparty Radar: US manager rebuilds USD/CNH call book to $15.7bn with strikes closer to spot and cheaper premiums
How Pimco, Capital Group funds bet on falling US rates
Counterparty Radar: Inflation hedge would soften impact for Capital Group; Pimco’s swaptions structures targeted modest decline
Banks demand look-through on private credit lending
Risk Live: Risk managers say they need to see underlying loans before lending to funds
BDC bank borrowing capacity rebounds after multi-year slide
The 20 largest BDCs added $11 billion in bank commitments in Q1, despite recent scrutiny
BlackRock uses options to rewire AI bets
Counterparty Radar: Global Allocation Fund shifts from net short to net long derivatives as equity allocation falls
Small bond fund breaks ranks with bumper sovereign CDS bets
Counterparty Radar: Boston Management and Research builds sizeable protection-heavy positions across narrower set of issuers
Credit market maths seems not to add up
Today’s investors would appear to be better off buying ‘riskier’ debt