As the government freeze stalls new issues, pent-up demand may spark a flurry of activity once the IPO market reopens. Here’s why the government shutdown has also halted IPOs, and what it could mean for savvy equity investors.

​​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.

Renewed trade tensions between the U.S. and China drove stocks lower while the continuation of the government shutdown elevated concerns.

Renewed trade tensions between the U.S. and China drove stocks lower while the continuation of the government shutdown elevated concerns.

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.

Japan’s Nikkei 225 index surged 6.7% over the past week, hitting record highs following the ruling party’s selection of pro-business Sanae Takaichi as its new leader. Are you too late to catch the rally? Let’s take a look.

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.