The seasoned, active investors at MacKay Municipal Managers provide valuable insights into the highly fragmented, complex, and inefficient municipal bond market. With topics that can range from public policy, market technicals, and municipal strategies for clients to consider, tune in to our monthly in-depth conversations for the team’s latest views on the municipal market. MacKay Municipal Managers is a team of portfolio managers at MacKay Shields. MacKay Shields is 100% owned by NYLIM Holdings, which is wholly owned by New York Life Insurance Company.
In this episode of Muni 360, host Eric Kazatsky sits down with Scott Sprauer, Portfolio Manager at MacKay Municipal Managers, for a timely discussion on why municipal bonds remain a compelling option in today’s shifting market.
From Fed policy and supply dynamics to the resilience of muni credit quality, Scott explains how active management and smart curve positioning can unlock opportunities for investors. He also shares why elevat...
Two ideas at different spots on the curve
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MacKay Municipal Managers is a team of portfolio managers at MacKay Shields. MacKay Shields is 100% owned by NYLIM Holdings, which is wholly owned by New York Life Insurance C...
Our view is that OBBBA’s actual financial impact to states will be small, and quite manageable.
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MacKay Municipal Managers is a team of portfolio managers at MacKay Shields. MacKay Shields is 100% owned by NYLIM Holdin...
Healthcare has been one of the most dynamic pockets of the market uniquely facing the challenges of pandemic and now Medicaid challenges with the passing of the OBBA, however hospitals have remained resilient evidenced by improving median metrics.
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Issuance is up, the curve is steepening, and tax policy is finally clear—conditions that have muni investors taking a closer look.
In this episode, host Chris Roberti is joined by Matt Hage, Portfolio Manager at MacKay Municipal Managers, for a timely look at market dynamics and positioning. Matt shares why issuance is running 20% above last year’s record pace, how shifts in the curve are opening long-term opportunities, and what th...
Our view is that OBBBA’s actual financial impact to states will be small, and quite manageable.
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MacKay Municipal Managers is a team of portfolio managers at MacKay Shields. MacKay Shields is 100% owned by NYLIM Holdin...
The difference in yields between the 2 year and 30 year points on the municipal yield curve is the highest it’s been in 5 years.
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MacKay Municipal Managers is a team of portfolio managers at MacKay Shields. MacKay Shie...
Crossover buyers recently started investing in munis
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MacKay Municipal Managers is a team of portfolio managers at MacKay Shields. MacKay Shields is 100% owned by NYLIM Holdings, which is wholly owned by New York Life ...
The muni market in 2025 is marked by heavy issuance, steeper curves, and clear tax policy—and investors are watching how it all plays out.
In this episode, host Eric Kazatsky welcomes back Mike Denlinger, Portfolio Manager at MacKay Municipal Managers, for a midyear review of their Top 5 Insights. They unpack what’s actually driving underperformance so far this year, why the tax exemption remains intact, and how sector-specific cred...
MacKay Municipal Managers’ philosophy on high yield munis.
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MacKay Municipal Managers is a team of portfolio managers at MacKay Shields. MacKay Shields is 100% owned by NYLIM Holdings, which is wholly owned by N...
The muni market in 2025 is shaped by shifting supply, political headlines, and an evolving rate environment and investors are watching closely.
In this episode, host Chris Roberti is joined by Ian France, Credit Analyst and Portfolio Manager at MacKay Municipal Managers, to unpack the key trends so far this year. From elevated new issuance and lackluster flows to cheapened ratios and sector-specific risks, Ian offers a clear-eyed vi...
New deals are seeing oversubscriptions.
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MacKay Municipal Managers is a team of portfolio managers at MacKay Shields. MacKay Shields is 100% owned by NYLIM Holdings, which is wholly owned by New York Life Insurance Com...
We explain why municipal to treasury ratios are important to municipal bond investors.
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MacKay Municipal Managers is a team of portfolio managers at MacKay Shields. MacKay Shields is 100% owned by NYLIM Holdings, which...
We explain the State and Local Tax deduction cap and the extent to which it impacts municipal bond investors
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MacKay Municipal Managers is a team of portfolio managers at MacKay Shields. MacKay Shields is 100% owned by...
Absolute yields in municipals are attractive and the yield at which you purchase fixed income is critical.
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MacKay Municipal Managers is a team of portfolio managers at MacKay Shields. MacKay Shields is 100% owned by ...
Despite persistent volatility and a looming rate pivot, the fixed income market is showing signs of renewed opportunity – if you know where to look.
IIn this episode, host Chris Roberti is joined by Scott Sprauer, Senior Portfolio Manager at MacKay Municipal Managers, to explore the evolving dynamics in the municipal market. The conversation covers the growing appeal of high-quality, high-yield munis, the impact of constrained suppl...
Issuance for taxable muni’s is up 29% compared to the same time last year
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MacKay Municipal Managers is a team of portfolio managers at MacKay Shields. MacKay Shields is 100% owned by NYLIM Holdings, which is wholly o...
Continued resilient demand amid strong supply for the year provides insights into valuations
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MacKay Municipal Managers is a team of portfolio managers at MacKay Shields. MacKay Shields is 100% owned by NYLIM Holding...
The ongoing new issue supply wave continues to create opportunities for active managers
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MacKay Municipal Managers is a team of portfolio managers at MacKay Shields. MacKay Shields is 100% owned by NYLIM Holdings, whic...
Uncertainty in the municipal bond market isn’t new but how you respond to it makes all the difference. With spreads widening, rates rising, and liquidity tight, active management is being put to the test.
In this episode, host Chris Roberti is joined by Matt Hage, Portfolio Manager and Trader at MacKay Municipal Managers, speaking from the firm’s trading desk in Los Angeles. Matt shares real-time insights on what’s shaping the munic...
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