Credit jitters drive CDS volumes to new highs in Q2
US retail funds increase sold protection as credit default swap index notional hits $185bn
Amidst an uncertain geopolitical environment that rattled global markets, US mutual funds and exchange-traded funds piled into credit default swaps in the second quarter of the year.
Index CDS positions among retail funds rose 7.3% to a record $185.2 billion in notional, led by investment-grade indexes in the US and Europe. Meanwhile, single-name CDS increased 6.1% to $33.4 billion, with all of
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on Counterparty Radar
Choppy Q1 precedes big Q2 for US rates books
Interest rate and inflation swaps hit notional records, filings show, while mutual funds pile into Euribor and Sonia swaptions
US fund managers reshuffle dealer books amid new trading highs
Mutual funds, ETFs hit record FX forwards positions but retreat from options; insurers rotate counterparties
Fund giants turbocharge Wells Fargo’s FX forwards book
US bank jumps from 12th to second in Q2 2026 dealer rankings as Pimco and Vanguard ramp up trading
Cuts and points – how the Dealer Rankings work
Dealer Rankings 2026: We have a simple way to compare dealers. Sort of simple, anyway
Ucits funds ramped up macro trades in latest data
Counterparty Radar: FX forwards and rate swaps set records last year, with inflation and index CDS books also booming
On buy side, equity index options tilted bullish in Q1
Counterparty Radar: Share of notional in short positions hit new low for US life insurers; mutual funds also reported smaller short books
Goldman gobbles up credit options
Counterparty Radar: Q1 surge comes as US mutual funds and life insurers pile into index CDSs
US buy side flocked to FX forwards and options in Q1
Counterparty Radar: Pimco led $187 billion rise in forwards notional among funds, while TIAA drove insurer activity
