Highlights from the week of December 12 –December 18, 2025.

Billions of dollars are pouring into artificial intelligence as companies jockey for dominance.

As investors grapple with the potential for elevated volatility, we offer six themes we think will drive fixed income markets in the first half of the year.

Our new survey findings reveal critical insights about how TDFs help influence retirement readiness.

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

Our long-term return expectations for capital markets serve as key inputs into our strategic asset allocation for multi-asset portfolios...

When selecting a fund to anchor your clients’ portfolios, consider its journey just as carefully as its destination.

November kept investors on their toes. Early in the month, stocks that had been winning all year suddenly fell behind, while sectors that had lagged started to catch up. Companies tied to artificial intelligence (AI) faced pressure as investors worried about high valuations and how much big tech firms will need to borrow to fund their massive spending plans. At the same time, concerns grew about whether the AI boom is becoming a “circular economy,” where companies mostly sell to each other instead of creating new demand.

Third-quarter results were strong, even as the broader economy showed signs of slowing.

Credit spreads have come off recent tights, but the uncertain macro backdrop continues to favor a selective, patient approach to adding risk.