November 10, 2023 (NO COMMENTS)

BlackRock cut its interest rate swaptions exposure by 46% in the second quarter of the year to $14 billion notional amid a wider retreat from the instrument by mutual funds and exchange-traded funds. Across all US retail funds, the overall value of swaptions contracts fell 21% to $183 billion notional, data aggregated from Q2 US Securities and Exchange filings by’s Counterparty Radar service showed. All but one of the 10 most-active managers in the space reduced their positions