The Old Normal is Back. Prepare for it with Meaningful Municipal Allocations. – New York Life Investments – 1.14.25

Overview:
Title: The Old Normal is Back. Prepare for it with Meaningful Municipal Allocations.
Date: Tuesday, January 14, 2025
Time: 12:00 PM Eastern Standard Time
Duration: 1 hour

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Summary:

Now On Demand

Join us for MacKay Municipal Managers’ annual “Top 5 Muni Market Insights”. According to MacKay Municipal Managers, 2025 will be a year of getting “back to normal” for the municipal market. For the first time in years, we expect a more orderly market environment that fosters investor confidence while offering compelling tax-equivalent yields. Many investors remain underexposed to municipals, with household investments in municipals down 2% over the past five years, while investments in Treasuries and Equities have surged. Now is the time to reallocate and take advantage of historically higher tax-exempt yields.

Key discussion points will include:

  • Why 2025 offers an ideal opportunity for reallocation into municipals.
  • The importance of using research-driven strategies for high-yield opportunities.
  • Why reallocating cash into the shorter yield curve may enhance performance.

Accepted for 1 CFP® / IWI / CFA CE Credit

Speakers:
David Dowden David Dowden Managing Director, Portfolio Manager MacKay Municipal Managers™

David is a Portfolio Manager on the municipal bond team and is focused on Intermediate Investment Grade Municipals. Joined MacKay Shields in 2009. Before joining the firm he was Chief Investment Officer at Financial Guaranty Insurance Company. David was previously with Alliance Capital Management as a Senior Portfolio Manager and at Merrill Lynch & Co. as a Municipal Strategist. David has an AB from Brown University and an MBA from Columbia University. He has been in the investment management industry since 1989.
Chris Roberti, CIMA (Moderator) Chris Roberti, CIMA® (Moderator) Managing Director, Chief Marketing Officer MacKay Municipal Managers™

Chris serves as Senior Client Portfolio Manager and Chief Marketing Officer of MacKay Municipal Managers. Chris joined MacKay Shields in May 2011. Prior to joining, Chris was Senior Director with TIAA-CREF Asset Management focusing on investment product business development through institutions within the academic, medical, and research community. From 1991 through 2006, Chris worked with Merrill Lynch, most recently as Head of National Accounts within the asset management division overseeing business development within the broker-dealer community. Chris has a BA from Rutgers University, is a Certified Investment Management Analyst and member of Investments & Wealth Institute. He has been in the financial services industry since 1991.
All investments involve market risk, including loss of principal. Bonds are subject to interest-rate risk, credit risk, and potential loss of value if rates rise. Municipal bonds carry risks such as issuer repayment ability, limited information, and possible tax or legislative changes. Lower-rated securities may have higher risks of nonpayment.

This material reflects the opinions of MacKay Municipal Managers™ not necessarily MacKay Shields LLC. Opinions are subject to change without notice and are for informational purposes only. This is not investment advice or a recommendation. Information is believed to be reliable but not guaranteed. Forward-looking statements are as of their date and may not be updated. Reproduction requires written permission. ©2021, MacKay Shields LLC. Past performance is not indicative of future results, and there is no assurance that investment objectives will be met.

MacKay Municipal Managers™ is a trademark of MacKay Shields LLC, a subsidiary of New York Life Investment Management Holdings LLC, itself owned by New York Life Insurance Company.

“New York Life Investments” is both a service mark, and the common trade name, of certain investment advisors affiliated with New York Life Insurance Company. Securities are distributed by NYLIFE Distributors LLC, 30 Hudson Street, Jersey City, NJ 07302, a wholly owned subsidiary of New York Life Insurance Company.

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