Pimco doubles down on FX forwards trades in Q1
Pimco
nearly
doubled
the
size
of
its
foreign
exchange
forwards
portfolio
in
the
first
quarter
of
2024,
where
it
now
commands
almost
a
fifth
of
the
market.
This
increased
activity
–
from
$114
billion
in
the
fourth
quarter
of
2023
to
$211
billion
–
helped
drive
much
of
the
growth
in
mutual
funds’
forwards
books,
accounting
for
nearly
60%
of
all
notionals
added
by
asset
managers.
The
California-based
fund
manager’s
actions
had
a
notable
effect
on
a
multitude
of
dealers,
as
Pimco
yielded
four
of
the
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