Our upcoming video series looks at how using multiple diversified sources of return may create flexibility to respond to changing opportunities → https://lnkd.in/ekXrSWfz 1. Michael DePalma highlights the overlooked benefits of discounted bonds, which in our view offer greater risk mitigation during market downturns and potential enhanced gains during rallies. 2. Zachary Aronson explores yields in non-agency commercial mortgages and asset-backed securities, despite current challenges. 3. Neil Moriarty discusses opportunities in what we believe are undervalued areas such as commercial real estate as market spreads tighten. 4. Sanjit Gill, CFA emphasizes the value of taxable municipal bonds, which may provide improved yields and credit quality, especially in a rate-cutting cycle. #FixedIncome #Bonds #PortfolioManagement #Munis #RealEstate #Credit
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Check out Steven Friedman‘s latest post FOMC commentary below.
As I mentioned in my prior post, I thought the FOMC could avoid having a 50 basis point rate cut appear panicky by effectively using its communication tools, namely, Powell’s press briefing and the Summary of Economic Projections. And that is exactly how they played it. Powell described the decision to start the easing cycle with a half-point move as a policy recalibration to ensure a strong labor market, while the projections portray a solid economic outlook supported by a somewhat faster return to a neutral policy setting. Please see the video below for more.
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Check out the latest “Masters of the Muniverse” episode from Bloomberg Intelligence’s FICC Focus podcast, where John Loffredo dives into the evolving municipal bond landscape and explores how risk-managed relative value approaches can reveal new opportunities. MacKay Municipal Managers | New York Life Investments | #MunicipalBonds
The performance of the broad muni index has been positive this year, while also notably falling short of the stronger showing by its fixed-income counterparts. The real winners, however, can be found in the lower-rated muni-credit rungs, with the Bloomberg Muni High Yield index leading the way. In the latest Masters of the Muniverse episode of our FICC Focus podcast, myself and Karen Altamirano are joined by John Loffredo, Vice Chairman of MacKay Shields LLC, to discuss the changing landscape of munis and how risk-managed relative-value approaches can help uncover opportunities. #muniland #taxfree #highyield #pensions #insurance Apple: https://lnkd.in/eXWtR7UA Spotify: https://lnkd.in/eXTYGJvW
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#MacKayMoments | Employee Spotlight – Drew Schuchman Learn more about Drew Schuchman, Analyst at MacKay Shields in our latest Employee Spotlight! Click here to view more about MacKay Shields: https://bit.ly/3T602aS
