Legg Mason, Western AM jump into surging inflation market
Counterparty Radar: AB, Lord Abbett, PGIM also report larger books in Q2, as swap activity ramps up
Inflation swap books at a number of large US fund managers jumped in the second quarter, with the sector’s total reported position hitting its highest level since Risk.net began collecting the data at the start of 2020. Existing large players added to their positions, while other firms came from nowhere – a broad-based surge in involvement that suggests managers are warming to the idea inflation
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