Webcast: Monday, September 11, 1PM ET
Accepted for 1 CFP®/IWI/CFA CE Credit
A Bright Opportunity for Bonds – Taxable Municipals and Short Duration High Yield
After years of income limitations, investors now have the opportunity to access greater yields. However, in today’s bond market landscape, macroeconomic influences are directing investor sentiment and decisions. Factors like shifting-rate dynamics, cash on the sidelines, and the imminent possibility of a recession have prompted a reassessment of risk and investment strategies. Against this backdrop, taxable municipal and short duration high yield assets are standing out as attractive options.
Nate Hudson, CFA, Managing Director, at MacKay Shields High Yield Team, and Robert Burke, CFA, Managing Director, Portfolio Manager at MacKay Municipal Managers™, offer their perspectives on short duration high yield and taxable municipal asset classes, respectively. The speakers explore where opportunities lie, taking into account the reawakened dynamism of the bond market and the macroeconomic forces shaping it.
Featured Speakers:
- Nate Hudson, CFA, Managing Director, MacKay Shields High Yield Team
- Robert Burke, CFA, Managing Director, Portfolio Manager, MacKay Municipal Managers™
- Michael LoGalbo, CFA, Multi-Asset Portfolio Strategist, New York Life Investments Multi-Asset Solutions Team
Title: A Bright Opportunity for Bonds – Taxable Municipals and Short Duration High Yield
Date: Monday, September 11, 2023
Time: 1PM ET
Accepted for one hour of CFP® CE Credit and IWI CE Credit for live webcast attendees. RIA Database is registered with the CFA Institute as a Sponsored Provider of Live CE Programs for CFA Charterholders.
SPEAKERS
Nate Hudson is a Managing Director on the High Yield Team, where he follows the automotive and services sectors. Prior to joining MacKay Shields in 2008, he was a Senior Analyst of High Yield Credit in Strategic Capital’s (White Ridge Advisors) proprietary investment group at Banc of America Securities. Previously, he was a sell-side High Yield Analyst at Banc of America Securities and a High Yield Credit Analyst at Nomura Corporate Research & Asset Management (NCRAM).
Nate received a BA from Yale University and is a CFA Charterholder. He has been working in the investment industry since 1991.
Robert is a Managing Director at MacKay Municipal Managers and a Portfolio Manager of the MainStay MacKay municipal bond funds. His primary focus is on the investment-grade and taxable segments of the municipal market.
Robert joined the firm in 2017 in his current role. Previously, he managed the global futures, derivative clearing, and foreign exchange prime brokerage businesses for the Bank of America/Merrill Lynch. He also ran credit hedge fund sales at Bank of America/Merrill Lynch and worked in the firm’s private equity group. He has worked in the financial services industry since 1985.
Robert earned a B.A. with high honors in Economics from Colgate University and an M.B.A. from the Gabelli School at Fordham University.
Michael LoGalbo is a Multi-Asset Portfolio Strategist at New York Life Investments. He sits on the Multi-Asset Solutions team, which manages a combined $8.4B in assets (as of 9/30/22), including MainStay’s Income Builder Fund, Asset Allocation ETFs, and bespoke investment solutions.
“Macro Mike” combines expertise in economics, markets, politics, and geopolicy to generate fundamental and quantitative top-down investment insights. He is a key contributor to the firm’s asset allocation process, and regular contributor to the firm’s client and media efforts.
Michael brings years of experience from both public and private markets, and macro to micro. He is a CFA Charterholder, graduated from the University of Southern California and holds a master’s degree in international economics from Johns Hopkins and an MBA from the Wharton School.
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For Financial Professionals Only.
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This material contains the opinions of the MacKay Municipal Managers™ and MacKay Shields High Yield 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. No part of this document may be reproduced in any form, or referred to in any other publication, without express written permission of MacKay Shields LLC. ©2021, MacKay Shields LLC. All Rights Reserved.
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MacKay Municipal Managers™ is a trademark of MacKay Shields LLC. MacKay Shields LLC is a wholly owned subsidiary of New York Life Investment Management Holdings LLC, which is wholly 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. NYLIFE Distributors LLC is a Member FINRA/SIPC.
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