Capital Group, BMR double down on bought index CDSs

Counterparty Radar: Market for US mutual funds contracts in Q4 for the first time in eight quarters


Capital Group and Boston Management and Research swam against the current in the fourth quarter of last year, adding $2.4 billion and $1.2 billion, respectively, to bought index credit default swaps while the broader market shrank.

US mutual funds slashed $27.5 billion in the fourth quarter of the year, settling at $142 billion notional, the first market contraction in eight quarters. Managers primarily shed sold protection, taking off $20.6 billion, leaving it at a 61% share of the total

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