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Pimco’s interest rate swaps book shrinks 21% in Q3

Counterparty Radar: BlackRock and Capital Group also trim positions to drive down swaps usage by US mutual funds

US-funds-trim-IRS-positions

Pimco pared back the notional value of the interest rate swaps held in its mutual funds by more than a fifth in the third quarter, as US rates hit what is widely expected to be the peak of the Federal Reserve’s tightening cycle. 

The total value of the California-based firm’s portfolio fell 21% to $535 million compared with the previous quarter. The drop also led to a decrease in the volume of

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