Highlights from the week of October 24 – October 30, 2025.

Artificial intelligence is now a driving force behind market cycles, reshaping fixed income as tech giants seek financing for their historic capex boom. Here’s how it’s changing portfolios, risks, and opportunities.

​​Recent liquidity events related to portfolio companies in which PIF invests through its private equity holdings​.

As the government freeze stalls new issues, pent-up demand may spark a flurry of activity once the IPO market reopens.

Highlights from the week of October 3 – October 9, 2025.

In 2025, the U.S. economy has shown resilience despite challenges from government policies. While inflation has eased, it remains elevated due to ongoing tariff-related pressures, and the labor market is in a period of low hiring, low firing.

Global growth slows under the weight of tariffs, but fiscal stimulus, AI-driven productivity, and corporate strength keep equities in the driver’s seat.

Voya’s investment leaders debate the Fed rate cycle, policy questions, and the widening effect of AI’s massive, global buildout.

Stable value funds and money market funds are often compared in terms of their returns … but only one has had consistent performance over the long term.

Budget impasses can disrupt certain government services, but they’ve historically had little lasting impact on stock prices.