Core Insights - Women We Admire has announced The Top 50 Women Leaders of New York for 2025, highlighting the city's role as a cultural and commercial powerhouse with over 20 million residents [1] Group 1: Honorees - Shilpa Bangera, President and Global Head of Payments at Adyen, is recognized for her leadership in fintech, focusing on growth, innovation, and teamwork [2] - Emma Andrews, Vice President of Global Patient Advocacy at Pfizer, is honored for her efforts in embedding the patient perspective in company initiatives, aiming to improve patient outcomes [3] - Vynessa Alexander, Senior Vice President at Infor, is acknowledged for her extensive experience in technology and operations management, guiding young professionals in their career growth [4] Group 2: Additional Honorees - The list includes notable leaders from various industries such as Sherry Cassano (Pfizer), Jennifer Remling (Warner Bros. Discovery), and Marissa Tracey (Deutsche Bank), showcasing a diverse range of sectors represented [6] Group 3: Organization Overview - Women We Admire aims to recognize and inspire women leaders across various fields, circulating content to over 70,000 individuals and businesses [7]

Because when you hear shutdown, it's easy to assume that everything I mean the entire store is closed. Not the case. Let's welcome in Pimco's head of public policy, Libby Cantrill.Uh Libby, welcome. Um lot of 750,000 people, huge potential impact. But I do want to remind our audience that I think this is critical because a lot of people are scared.People get social security, they they use Medicare for healthcare. They're scared. Let's be very clear.During a quote shutdown, people still get social security. ...

Group 1: Monthly Performance of US Public Funds - In August 2025, the median performance of US equity funds was stronger than that of bond funds and asset allocation funds, but weaker than international equity funds, with median returns of 2.73%, 2.81%, 0.99%, and 2.17% respectively [1][7][9]. Group 2: Fund Flows and Trends - In August 2025, the US market saw a net inflow of $56 billion into actively managed funds and $706 billion into passive funds. Notably, open-end equity funds experienced a net outflow of $608 billion, while ETFs saw significant inflows of $624 billion for equity ETFs and $481 billion for bond ETFs [8][20][24][26]. - The top 10 asset management firms in the US experienced net outflows in open-end funds, with Vanguard and Capital Group seeing the largest outflows of $191 billion and $100 billion respectively. Conversely, the top 10 firms in the ETF space saw net inflows, with Vanguard and iShares leading at $374 billion and $322 billion respectively [26][30]. Group 3: New Fund Issuance - In August 2025, a total of 41 new funds were established in the US market, comprising 35 ETFs and 6 open-end funds. Among these, 20 were equity funds, 16 were bond funds, and 5 were asset allocation funds [3][35][36]. Group 4: Insights from Overseas Asset Management Institutions - Recent themes of interest among leading overseas asset management firms include the trajectory of US and European policies and foreign capital perspectives on the stock market. Concerns about rising inflation risks and the potential for a shift in stock market outlook from bullish to neutral have been highlighted [4][37][39].

Core Insights - Active fixed income ETFs are gaining popularity in 2025, with expectations for continued demand following the Fed's rate cut [1] - The Q3 Fixed Income Symposium highlighted the growing interest in active management within the fixed income space, with 71% of advisors believing it adds value [2] Company Insights - Vanguard emphasizes its robust active management capabilities, stating that alpha opportunities in fixed income arise from security selection and portfolio construction [3] - Vanguard has expanded its active fixed income ETF offerings, including the Vanguard Government Securities Active ETF (VGVT) and the Vanguard High-Yield Active ETF (VGHY) [4] - PIMCO, a pioneer in active fixed income ETFs, highlighted the impact of Fed rate cuts on investor behavior and the importance of active management in capital preservation [5] - PIMCO's Enhanced Short Maturity Active ETF (MINT) has a recent 30-day SEC yield of 4.3%, while the Ultra-Short Government Active ETF (BILZ) offers a yield of 4.1% [5][6]

Core Insights - The discussion highlights potential hotspots in the credit market following financial distress experienced by companies like Tricolor Holdings and First Brands [1] Group 1: Credit Market Analysis - Lotfi Karoui from Goldman Sachs and Sonali Pier from PIMCO provide insights into the current state of the credit market [1] - The financial difficulties of Tricolor Holdings and First Brands serve as a focal point for identifying risks and opportunities within the credit sector [1]

September has already set records for corporate credit issuance in Europe and in the US. High-grade sales are nearing $200 billion for the month, a milestone that has been achieved only four times on record. Lotfi Karoui, chief credit strategist at Goldman Sachs, and Sonali Pier, portfolio manager of multi-sector credit at PIMCO, talk about the supply surge with Bloomberg's Scarlet Fu on "Bloomberg Real Yield". ...

Investment Insights - Rob Arnott is a pioneer in index investing products, highlighting flaws in mainstream indexes like the S&P 500 that can negatively impact investors [5] - Arnott introduced alternative index strategies in the early 2000s, launching the Fundamental Index in 2005, which has influenced major firms like BlackRock and PIMCO to adopt Research Affiliates' indexes [6] - The recent launch of the Research Affiliates Deletions ETF (NIXT) focuses on fundamentally attractive stocks that have been removed from the S&P 500 [7] - The newly released Research Affiliates Cap-Weighted US ETF (RAUS) employs a cap-weighted approach to indexing after a fundamentals-based selection process, aiming to address inefficiencies in current index selection and removal processes [8]

one easing or two easings or even three easings just are not just don't matter. >> Yeah. >> Um don't matter because we're still in a little restrictive territory with looks like you know a little bit too high inflation even without the uh tariff induced inflation.So they should be a little bit restrictive. Beyond that um I think it can you know then you're really risking a lot of things. A weaker dollar more inflation and those sort of things.So we you know I I and I don't it doesn't matter what happens if ...

Let's bring in now a former Fed officials take. That is Richard Clar, a former Fed chair and global economic adviser at PIMCO. Richard, kind of a dealer's choice.You got the actual Fed decision everybody expected. You got Myron calling for a half percentage point cut. He's kind of way out there.No desense, the neutral rate. What do you think is the most important thing here. Well, I think there was some risk management here along two dimensions.One, the statement made reference to risk in the labor market. ...

Core Viewpoint - PIMCO suggests that the Federal Reserve should halt the reduction of its mortgage holdings to support the U.S. housing market, as the current approach has led to elevated mortgage rates and wide mortgage spreads [1][2]. Group 1: Mortgage Market Conditions - Mortgage spreads have remained "unusually wide," approximately 230 basis points, contributing to a high average mortgage rate of 6.35% for 30-year loans [2][6]. - The Fed's quantitative tightening has involved shedding mortgage bond holdings since 2022, impacting the housing market negatively [1][2]. Group 2: Proposed Solutions - Reinvesting the proceeds from mortgage-backed securities (MBS) roll-off, averaging $18 billion monthly, could lower mortgage rates by 20 to 30 basis points, equating to the effect of a 100-basis point cut in the federal funds rate [3][4]. - An alternative strategy includes both reinvesting the MBS roll-off and selling $20 billion to $30 billion in MBS, potentially leading to a 40 to 50 basis point reduction in mortgage rates [5]. Group 3: Future Outlook - If the Fed maintains its current strategy, mortgage rates are expected to remain high through 2026, limiting homeownership to wealthier individuals [6].