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Assessing the Entry Point for Fixed Income

How should asset allocators be thinking about the role of fixed income in portfolios?

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Our commitment to performance with purpose.

Since 1938 MacKay Shields has partnered with clients to help meet their investment goals through high quality products and exceptional service. We serve a prominent group of pension funds, government and financial institutions, family offices, high net worth individuals, endowments and foundations from across the globe.

Our commitment to performance with purpose.

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.

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Equitable for All—Visualizing Our Differences

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.

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Specialty Fixed Income Outlooks

Forget the Landing Narrative, Stay the Course!

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Finding Relative Value in Mortgage-Backed Securities

Mortgage-backed securities provide institutional investors with unique and varied investment opportunities. Read our latest persepctive to learn more.

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US-China Trade Wars: A Benign Déjà Vu or Potential for Wider Escalation?

Understanding the deeper implications of the Chinese macroeconomic policy shift will be crucial for investment success.

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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.

5 MIN READ

March 25, 2024

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.

3 MIN READ

March 27, 2024

Exploring the Current Landscape of China

Emerging Market Debt Team answers topical questions on China.

5 MIN READ

May 9, 2024

Finding Relative Value in Mortgage-Backed Securities

Mortgage-backed securities offer institutional investors varied investment prospects, particularly as residential and commercial MBS.

7 MIN READ

April 11, 2024

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.

5 MIN READ

January 11, 2024

MacKay Municipal Managers Top 5 Insights for 2024

The Year of FUNDamental Municipal Investing

3 MIN READ

January 22, 2024

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.

5 MIN READ

December 11, 2023

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.

November 1, 2023

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.

3 MIN READ

October 26, 2023

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.

4 MIN READ

July 20, 2023

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.

Tackling Liquidity Webinar

Watch our key highlights from the Tackling Liquidity webinar.

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.

6 MIN READ

October 24, 2023

Bonds Are Back: Take 2

Mark Kehoe, CFA, gives an update on the Bonds are Back piece released earlier in the year.

September 1, 2023

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.

2 MIN AUDIOGRAM

August 30, 2023

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.

2 MIN READ

August 7, 2023

Employee Spotlight – Cameron White

Meet Cameron White, Managing Director and Head of Fundamental Research at MacKay Shields in our latest Employee Spotlight.

March 29, 2023

Opportunities in Emerging Market Debt

View the latest insights and perspectives from the MacKay Shields Emerging Market Debt team.

4 MIN AUDIOGRAM

May 23, 2023

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.

5 MIN READ

May 16, 2023

Failures, Funding and Financial Resiliency: 1Q 2023 Bank Earnings

What matters to credit investors?

5 MIN READ

April 27, 2023

Employee Spotlight – Philip Fielding

Meet Philip Fielding, co-head of Emerging Market Debt, in our latest Employee Spotlight.

5 MIN READ

March 31, 2023

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.

8 MIN READ

December 9, 2022

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.