Housing policy may not move home prices quickly, but it could reshape the mechanics that drive mortgage lending, RMBS spreads, cash flows, and relative value.

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

Last week, America enjoyed its largest monthly decline in inflation since April 2020. That lasted roughly three days, until renewed fighting around the Strait of Hormuz pushed oil back above $80. Bagged lettuce gets a better run than that. Oh, wait…

Last earnings season knocked it out of the park, and Wall Street's response is to crowd the plate and dare the quarter to throw harder.

The Trump administration is taking stakes in chip, defense, quantum, and rare earth companies that align with policy priorities.

Last week, markets divided between mega caps, AI-linked tech, and energy driving the winning side, while small and mid caps sank lower. All eyes are now on housing, inflation, and retail sales data due out this week, along with Fed Chair Warsh’s congressional testimony.

Private credit redemption pressure and default upticks are not likely to affect well-diversified secondary private equity portfolios.

Dividend yield reflects what a company paid; price-to-book what it owns. Neither captures what it can do next.

Government-backed mortgage bonds have outperformed during some of the market’s worst quarters. Here’s how they work and what their track record has historically meant for investors seeking diversification.

Private equity (PE) buyout valuations have moved to unusually low levels relative to public equities.