Mutual funds
BlackRock uses options to rewire AI bets
Counterparty Radar: Global Allocation Fund shifts from net short to net long derivatives as equity allocation falls
Franklin Templeton closes $5bn yen options book
Counterparty Radar: Asset manager’s bets on USD/JPY soured as yen weakened through Q4
Digital asset risk: ICR for tokenised fund infrastructure
The market context for TMFs, the drivers of TMF adoption, layers of the ICR architecture, stakeholder exposures and regulatory developments
Pimco slashes short dollar forwards at year-end
Counterparty Radar: EUR/USD cuts drive $86.5 billion reduction
Exposures with undisclosed risk-weights hit new highs at US banks
Assets in the ‘other’ category of standardised risk-weights grow to $700bn
Markets never forget: the lasting impression of square-root impact
Jean-Philippe Bouchaud argues trade flows have a large and long-term effect on asset prices
NBFIs expanded at twice the rate of banks in 2024
Run-prone funds drive NBFI asset growth, FSB monitoring report shows
US mutual funds slash short euro positions at record pace
Counterparty Radar: Pimco cut $4.6bn of EUR/USD puts in Q3 amid changing stance on dollar direction
FICC takes record bite from MMF repo investments
Funds shift cash from the Fed’s ON RRP as cleared repos hit $1.11trn
Pimco piled into euro put options in Q2
Counterparty Radar: EUR/USD buying spree takes Pimco’s FX options book to $7 billion
Crypto ETFs gatecrash the US Treasury repo market
Counterparty Radar: Volatility Shares tapped $13 billion in repo funding in Q2
ANZ’s FX forwards surge with Pimco
Counterparty Radar: Australian bank becomes top counterparty to the asset manager after huge jumps in cable and EUR/USD
Niche FX crosses pop up in mutual fund options activity
Counterparty Radar: Fund filings reveal unusual FX options crosses – some never repeated, many with unclear strategies
Cuts and points – how the Dealer Rankings work
Dealer Rankings 2025: We have a simple way to compare dealers. Sort of simple, anyway
Choosy dealers search for their sweet spot
Dealer Rankings 2025: No bank appears in every top 10 list, as data reveals shifting strengths
Opportunity knocks as big US dealers step back
Dealer Rankings 2025: Third annual exercise shows top US dealers are less dominant, allowing Barclays and others to strengthen
Goldman Sachs tops third edition of Dealer Rankings
Dealer Rankings 2025: Citi slides, Europeans climb in annual analysis of US fund and insurer trades
Tidal rides retail boom to lead in single-stock options
Counterparty Radar: Volatility-selling ETF firm accounts for half of trading among US funds
Mutual funds were USD bulls going into April’s tariff chaos
Counterparty Radar: Positioning in Q1 reflected market sentiment that tariffs would lead to a dollar rally
Europe’s Ucits funds: Made in the USA
Counterparty Radar: EU retail funds market is a prime example of Trump’s miscalculation on trade
Pimco’s $19 billion Sonia swaptions trade
Counterparty Radar: Bond giant springs up as largest player in space among US mutual fund managers, with Guggenheim shadowing its move