Victory Capital

Three forces shaped fixed income markets in July, and they all point to the same conclusion. What does it mean for your portfolio? Victory Income Investors’ Portfolio Specialist Ally Krautheim breaks it all down in the latest Fixed Income Market Minute.

Today, Victory Capital entered into a definitive agreement to acquire 100% of First Eagle, an independent global asset manager with approximately $222 billion in assets under management as of July 31, 2026. Upon closing, Victory Capital will manage approximately $571 billion in total client assets, positioning us as one of the largest publicly traded traditional asset managers in the U.S. First Eagle brings a differentiated and complementary product lineup spanning global value multi-asset, equities and fixed income, plus a scaled CLO and alternative credit platform. It also expands our reach in the U.S. and outside the U.S. Our clients will benefit from more choice and broader capabilities. For more details and important information about the transaction, please read our press release: https://lnkd.in/eceQ6fFM

Inflation remains under scrutiny, and everyone wants to know what the Fed will do next. In WestEnd Advisors’ base case, U.S. core inflation may have already reached its near-term peak. Learn about WEA’s current selective approach to cyclical and interest rate exposures in their latest Q3 Macro Update: https://ow.ly/5SgN50ZFhrn

The Federal Reserve held rates steady in July, keeping fixed income investors in a higher-for-longer environment. The question isn't when higher-for-longer ends, it's how you position within it. Victory Income Investors' Chief Investment Officer Jim Jackson and Portfolio Specialist Ally Krautheim discuss where they're seeing opportunity and where they're seeing risk in the latest Bonding Over Bonds.

Happy 30th birthday, 529 Plans! On this day in 1996, a new way to help families save for education was born. Join us in celebrating this milestone and discover how far 529 Plans have come in the last 30 years. Learn more: https://ow.ly/Kkke50ZyWFn

Small caps had one of their strongest starts vs. large caps in decades… and then July flipped the leaderboard, with value taking over from growth and the AI trade unwinding fast. The question now is whether July was a one-month rotation or the start of something bigger. In the latest Catalyst, Integrity Asset Management's Chief Investment Officer Dan Bandi breaks down what drove the rally and whether the second half of 2026 could belong to value. Link to the full commentary in the comments.

A sharp decline in oil prices, broad-based corporate earnings strength and a hawkish repricing of the Fed's rate path influenced fixed income markets during the second quarter. Which segments of the bond market have been performing well? Read the latest commentary from Pioneer Investments now: https://ow.ly/IWKX50Zy83o

The second quarter was notable not only for the robust move higher in the broad market, but also for investors’ willingness to move down the cap spectrum. Perhaps this reflects the potential of many smaller companies and their relative valuations. Read why the RS Investments team is bullish on small-cap value: https://ow.ly/5xG350Zy7KU

Back-to-school season is a good reminder that education costs add up fast. A Victory Capital 529 Education Savings Plan helps cover those costs. Explore what’s covered: https://ow.ly/gHGQ50ZyWgU

The second quarter delivered one of the strongest performances for U.S. equities in recent memory, thanks to a de-escalation in the U.S.-Iran conflict, robust corporate earnings growth and investor enthusiasm for AI infrastructure. Does this rally have legs? Learn more from Pioneer Investments today: https://ow.ly/1Rum50Zy7YT