Highlights from the week of September 25 – October 1, 2026.

Last week, America considered cutting back, then remembered pumpkin spice is only available for a limited time. Economic uncertainty, on the other hand, seems willing to work around your schedule. The latest reports showed consumers spending more money while feeling worse about the outlook, which makes sense if you’ve ever decided to start budgeting immediately after one small purchase.

Strong growth, resilient hiring, and steady consumer demand suggested the economy may have ordered the largest size after all.

The biggest risk to the AI story may not be AI itself.

Higher yields reflect a resilient economy, not necessarily the start of a punishing tightening cycle. That could be a favorable backdrop for bond investors.

AI companies face a trust test, cost pressure is spreading, and the Fed’s blunt tool may not reach the real bottlenecks.

Pomona Investment Fund will repurchase 5% of its outstanding shares under its September 30 quarterly repurchase offer.

Last week, America approached self-restraint the way Joey Chestnut approaches a hot dog. Unfortunately, the Federal Reserve was one of the judges. Stronger-than-expected retail sales, low jobless claims, and a renewed uptick in import prices reinforced the case for the Fed’s 25-basis-point rate increase, even as manufacturing activity softened.

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

Everybody's an unwilling energy analyst again.