Citi’s single-name CDS book with retail funds doubled in Q1
Counterparty Radar: New trades with PGIM totalling $2.4 billion return Citi to top of dealer rankings
Citi more than doubled the size of its single-name credit default swap (CDS) book with US retail funds to $4.4 billion in the first quarter from $2.1 billion at the end of 2022.
The surge returned Citi to the top of Risk.net’s rankings of CDS dealers trading with mutual funds and exchange-traded funds after two years trailing rivals.
Citi increased its book despite a general slowdown in demand
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