PGIM pares back long-bond options bets
Counterparty Radar: Barclays benefits from manager’s Q3 portfolio changes
Despite growing its credit options portfolio in the third quarter, PGIM nearly halved the long-bond positions it had established through the product, an analysis of the manager’s second- and third-quarter books shows.
The investment management arm of Prudential added $4.2 billion notional to its credit option positions – an 8% increase from its second-quarter total – driving most of the growth in total credit option positions from US mutual funds and exchange-traded funds. The sector saw its
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