Specialty Fixed Income Update

To help you maintain resiliency in your portfolio, the investment professionals at New York Life Investments share their insights on the market and its impact on their specific area of expertise.

Portfolio Manager insights are updated regularly to ensure the information is the most current. If you like this audio file and wish to receive it automatically, subscribe by entering your email address in the registration box to the right. Otherwise, you can bookmark this site and revisit it at your convenience

Asset allocation and diversification may not protect against market risk, loss of principal, or volatility of returns. There is no guarantee that these investment strategies will work under all market conditions or are suitable for all investors, and each investor should evaluate their ability to invest long term, especially during periods of downturn in the market. No representation is being made that any account, product, or strategy will or is likely to achieve profits. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for accounting, legal, or tax advice. Clients should consult your tax or legal advisor regarding such matters.

The views expressed herein are from MacKay Shields LLC and do not necessarily reflect the view of "New York Life Investment Management LLC (NYLIM)" "New York Life Investment Management LLC (NYLIM)" engages the service of affiliated, federally registered investment advisors such as MacKay Shields LLC. The products and services of "New York Life Investments" boutiques are not available to all clients and in all jurisdictions or regions.

This material represents an assessment of the market environment as of the date of this material; is subject to change; and is not intended to be a forecast of future events or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice regarding any funds or any particular issuer/security. The strategies discussed are strictly for illustrative and educational purposes and are not a recommendation, offer, or solicitation to buy or sell any securities or to adopt any investment strategy. There is no guarantee that any strategies discussed will be effective.

Any forward looking statements are based on a number of assumptions concerning future events, and although we believe the sources used are reliable, the information contained in these materials has not been independently verified, and its accuracy is not guaranteed. In addition, there is no guarantee that market expectations will be achieved.

MacKay Shields is 100% owned by NYLIM Holdings, 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 the investment advisors affiliated with New York Life Insurance Company.