MassMutual exited inflation hedges in Q2
Counterparty Radar: Closure of $1.5 billion book dealt a blow to BNP Paribas’s dealer ranking
Massachusetts Mutual Life closed out its inflation hedges in the second quarter, becoming the first major US life insurer to entirely withdraw from the space.
The Springfield, Massachusetts-based firm had a $1.5 billion book of inflation swaps – the third largest among US life insurers – at the end of Q1. That dropped to zero at the end of June, according to industry filings.
While other investors such as mutual funds and exchange-traded funds have drastically cut their inflation swap holdings
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