Goldman retakes top dealer spot in single-name CDS trades

Counterparty Radar: Pimco, Ice increase market share as volumes decline


Goldman Sachs regained the top spot for dealers of US mutual funds trading single-name credit default swaps (CDSs), as Morgan Stanley, which had briefly taken the lead in the fourth quarter of last year, saw some of its key clients reduce their books during Q1 2022.

The largest hit to Morgan Stanley’s ranking came from Pimco’s decision to cut $2.1 billion notional from its position selling protection on US government debt. Even as the California-based manager added to other positions with the

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