
Pimco, Western AM buttress sold index CDS positions
Counterparty Radar: US funds grow CDX NA HY positions by $7.2 billion in Q1

Pimco and Western Asset Management built on their sold CDS positions in the first quarter of the year, each adding $3.1 billion to their books over Q1 2022.
These moves spearheaded the expansion of the index CDS market for US mutual funds, which grew by $9.3 billion since the end of 2021, making it 26% larger than in the first quarter of 2020. Managers added $6.7 billion to sold positions and $2.6 billion to bought, keeping the sold ratio at 72%.
Pimco grew the most in the CDX NA HY index
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