PGIM cuts corporate CDSs as US funds shed volume
Counterparty Radar: Morgan Stanley retains top dealer spot in single-name CDS trades for mutual funds
PGIM took the lead in cutting corporate single-name credit default swaps (CDSs) in the third quarter of 2022, dropping $1.1 billion notional from its books, while Pimco cut $548 million notional in swaps referencing sovereigns, supranationals and agencies (SSAs).
The two led the way as US funds shed $643 million notional in CDSs referencing SSAs in the third quarter and dropped $1.2 billion
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