MacKay Shields LLC

#MacKayMoments | Using High Yield in an Uncertain Environment. Joseph Maietta, CFA looks at how asset allocators should be thinking about high yield bonds as part of their toolkit.?

Never go against the family—and after 32 years of friendship and working side-by-side, the Co-Heads of MacKay Municipal Managers, both self-proclaimed fans of The Godfather II, could practically be called brothers. Watch the video to get to know them better, and to see their expertise in action, visit: https://bit.ly/435VnMa Robert DiMella | John Loffredo | #NYLIproud | #TeamNYLI | #MeetTheManagers | #FinanceCareers | #Munis | #MuniMarket | MacKay Shields LLC

It has been a whirlwind of economic policy pronouncements over the first few weeks of the Trump administration. In the latest edition of Forward Guidance, Steven Friedman and Michael DePalma cut through the noise and focus on one key aspect of President Trump’s policy agenda – import tariffs and their likely impact on the economy and fixed income markets. They also touch on investing amid policy uncertainty, and relations between the administration and the Fed. View more here: https://bit.ly/40GnjmX

On the latest episode of Forward Guidance, Steven Friedman and Michael DePalma discuss the drivers behind the run-up in Treasury yields in Q4 and into early January, and how this impacts the opportunity set in fixed income markets. They also touch on the California wildfires, as well as the monetary policy outlook and investment opportunities in the euro area. View more here: https://bit.ly/4gmig0x

View why the team maintains that US high yield continues to represent a reasonable, lower duration fixed income investment option in 2025. View here: https://bit.ly/42gyDbY

We believe the bond market in 2025 is positioned for strong performance, driven by a resilient U.S. economy, moderating inflation and a shift toward a higher steady-state interest rate environment. View the Global Fixed Income Top 5 Investment Ideas for 2025: https://bit.ly/3DVLR3B

Check out the latest outlook from the Convertibles team to learn more about the U.S. convertible market's strategic issuance during 2024, our views on 4Q performance, and the team's expectations for 2025. Read here: https://bit.ly/40aawc7

We expect another year of solid growth for the US economy. We believe a healthy labor market and high levels of household net worth will support consumer spending. View more in our latest Macroeconomic Outlook for 2025: https://bit.ly/424r9sb

We believe that quality municipal credit research is vital in identifying relative value and enhancing portfolio performance. Learn more from our Director of Research, Frances Lewis on why credit research matters now more than ever. https://bit.ly/3W3y1SW

At MacKay Shields, we take great pride in being able to serve our many valued clients and for the opportunity to give back to our communities. This season, may peace and joy be in abundance with you and your families, wherever you are and however you celebrate. Happy Holidays!?