Capital Group, Pimco lead tilt to bought index CDSs

Counterparty Radar: US mutual funds added $7.8bn of bought protection, growing sector to $169bn in Q3


Capital Group and Pimco added $3.1 billion and $2.5 billion, respectively, to bought index credit default swaps, fuelling an expansion of the market in the third quarter of 2022.

The sector’s reported aggregate rose to $169 billion – up from roughly $165 billion in Q2 – with the share of bought protection growing to 37% of the total, the highest in the 11 quarters of data starting Q1 2020. Overall, US mutual funds expanded bought protection by $7.8 billion in the third quarter while cutting $3

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