Morningstar, Inc. - June 15, 2026
Markets Brief: Vanguard on the AI Borrowing Binge, Pimco on the Return of Financial Engineering
Plus: Did the Funds That Owned SpaceX Pre-IPO Clean Up?
 Morning DigestTom Lauricella Will the corporate bond market start trading more like tech stocks? Plus, dusting off the risky debt issuance playbook, and Fed meeting on deck. 
ADVERTISEMENT  Editor's Picks  Pre-IPO holders could start selling later this summer, and earnings will be an important test. Tom Lauricella, Leslie Norton  Baron Partners Fund made a bundle; returns to the other funds varied. Jeffrey Ptak  How SpaceX, Anthropic, and OpenAI will affect the public market. Paul Condra, Ivanna Hampton  Schwab investors now pay the same as Vanguard investors for their funds. Zachary Evens Investing Insights The AI infrastructure boom has driven huge rallies in many of these stocks. Lauren Solberg Healthcare has claimed the top spot in institutional loan issuance for the first time since 2015 while software loans decline. Marina Lukatsky One number will recalibrate OpenAI’s offering, public AI infrastructure multiples, and the entire hyperscale GPU buildout thesis. Harrison Rolfes These value mutual funds and ETFs invest in large-cap value stocks and earn top ratings from Morningstar. Tori Brovet May retail sales data incoming, plus FOMC to release a new dot plot. Jillian Moore New Stock Analyst Reports New Fund Analyst Reports A strong lead manager and supporting firm resources set Fidelity Puritan (FPURX) apart from most moderate-allocation Morningstar Category peers. That said, the portfolio’s signature allocations introduce more volatility than investors typically expect from a balanced fund, which tempers our conviction. The Tools You Need to Invest Like an Analyst Stay connected:
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