MacKay Shields Fixed Income Quarterly Outlooks – 2Q25

In MacKay Shields’ latest outlooks, the investment teams review how recent tariff announcements have sparked significant market reactions, leading to wider spreads and increased recession risks, and the opportunities presented within the fixed income asset class.

Featuring expert insights on:

• Macroeconomic Outlook – “Stagflationary tilt in today’s economy—where rising prices, slowing growth, and shifting Fed priorities are setting a new macro tone”
• Global Fixed Income Outlook – “The tariff landscape today is much more complex than it was years ago and for this reason, we believe the potential disruption to US corporate issuers could be more significant”
• High Yield Outlook – “U.S. high yield remains resilient amid trade tensions, as wider spreads and solid fundamentals enhance risk-adjusted opportunities”
• Convertibles Outlook – “U.S. convertible market's 1Q performance and strategic issuance, and expectations for 2Q 2025”