US funds continue expansion of sold CDS protection
Counterparty Radar: Pimco leads charge with $57 billion in total sold positions
US funds expanded their use of sold index credit default swaps over the fourth quarter, adding $8.6 billion in positions by the end of the period.
Market giant Pimco led the charge, accounting for $4.1 billion of the growth, taking its sold protection book to $57 billion. The index CDS market traded by US mutual funds grew by $9.5 billion to a total of $145 billion in Q4, with the bond giant
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