Voya Investment Management
The latest research and outlooks in the ProAllocate library
- Thematics
3 in 3: Capex, the Token Tax, and Trusting AI Agents
Voya's Jim Lydotes highlights broad-based capex increases across sectors, Microsoft's large voluntary exit program signalling AI-driven workforce changes, and survey data showing consumer trust remains the key barrier to AI agent adoption.
- Fixed Income
Fixed Income Perspectives: Rethinking Higher Rates in a Resilient Economy
Voya Investment Management argues today's bond selloff differs from 2022 because resilient growth, partly AI-driven, rather than inflation shock is pushing yields higher, with higher starting yields offering more cushion. It favors a diversified, sector-by-sector fixed income approach over positioning for a single rate scenario.
- Thematics
Multi-Asset Perspectives: AI’s Rising Fuel Bill
Voya Investment Management argues rising borrowing costs and narrow market leadership mean AI-driven companies must now convert spending into real revenue, profit and cash flow to justify elevated valuations. It favours self-funded growth, diversified earnings and high-quality income as rates rise and optimism gets tested.
- Fixed Income
For the Duration: The 7% Solution
Voya Investment Management argues that record IG bond supply from hyperscalers and the Treasury, combined with elevated rates, has pushed investment grade yields above 6-7%, offering pension-fund-level returns without taking on equity or high-yield risk.
- Equities
U.S. Midterms: When Politics Misprices Fundamentals
Voya Investment Management argues U.S. midterm election outcomes will misprice stocks in defense, health care and AI infrastructure sectors, creating opportunities where political headlines diverge from underlying fundamentals and earnings paths.
- Fixed Income
Short Duration High Yield: Income Without the Rate Call
Voya Investment Management argues short duration high yield bonds offer a defensive complement to core fixed income, limiting losses as Treasury yields rose in Q3 while still yielding 8.6% with just 2.4 years of duration. Since 2009 the strategy has captured most of broad high yield's returns with lower volatility and stronger risk-adjusted performance.
- Fixed Income
Key Insights from our 4Q Fixed Income Webinar
Voya Investment Management argues 5% yields may be the new normal amid structural inflation pressures, and that rate sensitivity varies sharply across AI capex, credit and mortgage markets, favouring selective over broad risk-taking. Fed Chair Kevin Warsh faces a complicated inflation picture that limits scope for easier policy despite some disinflation.
- Pensions
Voya Corporate Pension Intelligence Update 3Q26
Voya reports S&P 500 corporate pension funded status rose to 117.7% in Q3 2026 as higher discount rates outweighed weak asset returns. Voya argues that increasingly overfunded plans should diversify LDI portfolios into investment-grade private credit and commercial mortgage loans rather than simply rotating into equities.
- Equities
3 in 3: Sifting Through the Noise of Midterm Elections
Voya's Jim Lydotes argues midterm election noise is distorting market signals on consumer resilience, AI infrastructure financing, and defense procurement shifts, urging investors to focus on underlying fundamentals rather than election-driven volatility.