Embracing Change in Municipal Markets: A Mid-Year Update – 7.12.22 – NYL Investment

Overview:
Title: Embracing Change in Municipal Markets: A Mid-Year Update
Date: Tuesday, July 12, 2022
Time: 1:00 PM Eastern Daylight Time
Duration: 1 hour

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Summary:

Now On Demand

The market has seen several significant shifts in the first half of 2022. The Fed has played a major role in these changes – from shifting policy in response to increased inflation, to fast-tracking tightening measures and sparking a large move upward for U.S. government bond yields. These moves, paired with the ongoing geopolitical tensions that unfolded in Europe, have resulted in an uncertain and seemingly ever-changing municipal landscape. Amidst such shifting dynamics, how can investors learn to embrace change and find opportunity in the municipal bond market? Tune in to hear the top insights of seasoned experts from MacKay Municipal Managers.

Discussion Topics:

  • Macro Backdrop
  • Municipal Market – Complex and Evolving
  • Active Management
  • 2022 Municipal Market Insights
  • Attractive Investment Opportunities in Today’s Market
  • Municipal Bond Asset Allocation Strategies

Speakers:
David Dowden David Dowden Managing Director and Portfolio Manager MacKay Municipal Managers

David joined MacKay Shields in 2009. Before joining the firm, he was the 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.
Eric Snyder Eric Snyder Director, Client Portfolio Manager MacKay Municipal Managers

Eric Snyder is a Director at New York Life Investments focusing on fixed income product management for the MainStay MacKay municipal bond product suite. He joined New York Life in 2019 with over 10 years of industry experience. Prior to joining the firm, Eric worked at PGIM Investments where he was a product manager covering their public real estate and tax-exempt fixed income products. He started at PGIM as an internal wholesaler, later joining their product team as a Product Specialist primarily supporting the fixed income products. Eric started his career at Bank of America Merrill Lynch as a Merrill Edge Financial Solutions Advisor in 2007. He attended the University of Rhode Island where he earned a B.S. in finance. Eric holds FINRA 7 and 66 securities registrations.
Accepted for one hour of CFP®, CFA® & CIMA®, CIMC® or CPWA® CE Credit

All investments are subject to market risk, including possible loss of principal. Diversification cannot assure a profit or protect against loss in a declining market.

Please ask your clients to consider the investment objectives, risks, charges, and expenses of the investment company carefully before investing. The prospectus or summary prospectus contains this and other information about the fund and can be obtained by contacting you, the financial professional. Instruct your clients to read the prospectus or summary prospectus carefully before investing.

Municipal bond risks include the ability of the issuer to repay the obligation, the relative lack of information about certain issuers, and the possibility of future tax and legislative changes, which could affect the market for and value of municipal securities. Investing in below investment grade securities may carry a greater risk of nonpayment of interest or principal than higher-rated securities. Bonds are subject to interest rate risk and can lose principal value when interest rates rise. Bonds are also subject to credit risk which is the possibility that the bond issuer may fail to pay interest and principal in a timely manner.

This material contains the opinions of the MacKay Municipal Managers™ team of MacKay Shields LLC but not necessarily those of MacKay Shields LLC. The opinions expressed herein are subject to change without notice. This material is distributed for informational purposes only. Forecasts, estimates, and opinions contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. Any forward-looking statements speak only as of the date they are made and MacKay Shields assumes no duty and does not undertake to update forward-looking statements.

The strategies discussed are strictly for illustrative and educational purposes and are not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. There is no guarantee that any strategies discussed will be effective.

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