Discover a Broad Range of Investment Solutions Tailored for Institutional Investors at New York Life Investments.
Explore our cross-boutique platform to learn more >
Leader In Specialty Fixed Income
For decades, MacKay Shields delivered specialty fixed income solutions backed by disciplined research and a commitment to providing long-term value for our clients. The MacKay Shields client experience provides investors direct access to senior investment professionals.
Equitable for All—Visualizing Our Differences
At MacKay Shields we commit to the equitable treatment of all. To demonstrate this, MacKay worked with artist and photographer Maya Barkai to create this piece, which is meant to embody our diversity, equity and inclusion (left image). The piece of art (right) is created by MacKay's own Alina Sysak and represents the unique and diverse makeup of our firm.
Performance Focused, Independent Thinking, Client Access
With a rich history over eight decades, we have much to be proud of and are truly anchored to knowing ‘Who We Are’ as we partner with clients and support employees.
Specialty Fixed Income Outlooks
In our latest outlooks, the investment teams review how the US economy's sustained momentum has implications on fixed income markets, and strategic investment approaches for navigating the evolving financial landscape for 2025.
Municipal Credit Research Q&A: Why It Matters Now More Than Ever
Quality Credit Research is Vital in Identifying Relative Value and Enhancing Portfolio Performance.
US Banks 2025: Opportunities in a Transforming Landscape
With the backdrop of strong economic fundamentals, favorable regulatory shifts, and evolving market dynamics, we believe the US banking sector is positioned as an attractive opportunity set for income seeking investors.
FEATURED INSIGHTS
The Muni 360 Podcast - Weekly Wrap Up
Listen to the most recent podcast, as the seasoned active investors at MacKay Municipal Managers share their latest views on the municipal market.
Taxable Municipals: Complement to Core Bonds
Taxable Municipals can be a strategic complement to core bonds in your portfolio, helping to reduce risk and generate income. Our video explains how taxable municipals can potentially offer a reliable income stream and enhance your core bond investments. Watch to learn more.
Emerging market corporate debt: A potential core investment for institutional investors
Emerging market debt has gained significant prominence over the last two decades, in both economic and financial spheres.
Opportunities in Synthetic Risk Transfers
The US banking industry is undergoing significant changes that are creating new markets for fixed income investors. One of those markets is Synthetic Risk Transfers or SRTs.
MacKay Moment - Investing in Commercial Real Estate Debt: Zombie Apocalypse or Diamond City
Despite recent challenges, we believe the commercial real estate market holds resilient investment opportunities.
MacKay Municipal Managers Top 5 Insights Mid-Year Update
The Year of FUNDamental Municipal Investing
US-China Trade Wars: A Benign Déjà Vu or Potential for Wider Escalation?
EMD Team gives timely perspectives on the latest developments on the US-China trade relations.
Finding Relative Value in Mortgage-Backed Securities
Mortgage-backed securities offer institutional investors varied investment prospects, particularly as residential and commercial MBS.
Taxable Municipal Bonds: An Overlooked Asset Class
Municipal bonds are historically excluded from qualified retirement plans and IRAs. Yet, they are a compelling solution within fixed income portfolios.
Exploring the Current Landscape of China
Emerging Market Debt Team answers topical questions on China.
Finding Relative Value in Mortgage-Backed Securities
Mortgage-backed securities offer institutional investors varied investment prospects, particularly as residential and commercial MBS.
Banks and Commercial Real Estate
The US banking sector is currently facing major stress faced, particularly in commercial real estate. Although bruised, we expect the larger banks to fair well in CRE at the other end.
MacKay Municipal Managers Top 5 Insights for 2024
The Year of FUNDamental Municipal Investing
Stepping Out of Cash and into Short Duration
With short duration bonds currently generating high levels of income, we explain why it is now the time to step out of cash and into short duration bonds.
MacKay Fixed Income Top 5 Insights for 2024
In navigating 2024’s landscape, concerns around the US budget deficit, along with the required Treasury debt issuance, continue to captivate investors.
Emerging Markets Debt: Fresh Thinking on an Evolving Asset Class
While providing investors with a multiverse of global exposure and opportunities, we believe it's time for fresh thinking around the evolving nature of EMD.
High Quality, Durable Income with Taxable Munis
With a late cycle economy and sticky inflation, investing in higher credit quality fixed income bonds with durable income yields, may earn longer term benefits.
A Unique Opportunity in Structured Credit
Read more to see how investors can enjoy high single-digit yields in a secured investment while still maintaining an investment grade credit rating.
CMBS Market Update
Michael DePalma, Co-Head of the Global Fixed Income team explains how opportunities and demand in the commercial real estate market still remains strong despite concerns over the office market.
Bonds Are Back: Take 2
Mark Kehoe, CFA, gives an update on the Bonds are Back piece released earlier in the year.
MacKay Moments - High Yield's Resiliency: Leverage and Interest Coverage
As we assess the current high yield market, a key development stands out – its resiliency, even amidst a potential market slowdown.
MacKay Shields Convertibles Market Update – August 2023
Edward Silverstein, Head of Convertibles at MacKay Shields shares his observations of the Convertibles market for August 2023.
Employee Spotlight – Cameron White
Meet Cameron White, Managing Director and Head of Fundamental Research at MacKay Shields in our latest Employee Spotlight.
Opportunities in Emerging Market Debt
View the latest insights and perspectives from the MacKay Shields Emerging Market Debt team.
MacKay Shields High Yield Market Update – May 2023
Nate Hudson, Portfolio Manager at MacKay Shields shares his observations of the High Yield market for the first quarter of 2023.
Failures, Funding and Financial Resiliency: 1Q 2023 Bank Earnings
What matters to credit investors?
Employee Spotlight – Philip Fielding
Meet Philip Fielding, co-head of Emerging Market Debt, in our latest Employee Spotlight.
Banking Crisis—How Deep a Contagion?
Mark Kehoe analyses the current bank crisis and provides background on what Additional Tier 1 Securities are and how they play a role in the crisis.
US Taxable Municipal Bonds: Beyond the Basics
Preferential capital treatment, historically stable ratings, and ESG friendly credits, have piqued institutional interest in the taxable municipal bond asset class.
Bonds Are Back to Being Bonds
Bonds are back to being bonds in 2023, as we believe higher income will drive investment grade returns.
The Year of the Bond
In our 2023 outlook, the Global Fixed Income team explains why we fervently believe bonds are back and 2023 will be the “Year of the Bond.”
Inflation Reduction Act of 2022–A Look at Key Implications
Explore the Inflation Reduction Act’s potential impact on climate, macro and sector implications.