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.

Research Intensive

Focused, high conviction teams develop and implement well-defined investment philosophies, approaches, and processes best suited to their respective asset classes.

Strategies

High Touch Service

We offer our clients direct access to our investment teams. We’re well aware that our people are the best investment of all.

Our Investment Teams

Responsibility In Action

We provide purposeful opportunities for our employees and promote the well-being of the environment and communities in which we work and live.

Responsibility

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.

Relief Rally, Reality Check

In the latest episode of Forward Guidance, Steven Friedman and Michael DePalma dissect the implications of provisional trade war de-escalation for the economy, markets and portfolio positioning. The Treasury market also remains top of mind amid curve steepening and a fiscal plan making its way through Congress that could add close to $3 trillion to the public debt over the next decade.

Employee Spotlight – Alison Micucci

Our new CEO, Alison Micucci, shares her excitement about leading the MacKay team at a time of growing demand for public fixed income among institutional and retail investors. Under Alison's leadership, the team will be focused on building MacKay's experienced position in Municipals, High Yield, and Convertibles, while expanding our multi-sector and multi-asset solutions.

Downgrade – Assessing the US Fiscal Picture

The US fiscal landscape is deteriorating, with the debt-to-GDP ratio projected to reach 120-130% over the next decade. This fiscal decline, exacerbated by potential new legislation that could add $3 trillion to deficits, is expected to bring increased volatility to the Treasury markets. The 5-year Treasury yield, a key indicator of the government's cost of funding, is rising, and the yield curve has steepened due to a mix of fiscal and monetary policy factors. Stay informed and consider how these shifts may affect your investment strategies.