The Muni 360 Podcast from New York Life Investment Management

New York Life Investment Management
  • 4.8 (20)
  • Investing
  • Biweekly

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.

  1. Oct 16

    Turning Muni Losses Into Opportunities

    The recent rise in interest rates has put pressure on municipal bond prices, but it may also be creating new opportunities for investors. In this episode, host Eric Kazatsky welcomes back Jack Muller of MacKay Municipal Managers to discuss what’s driving the recent muni market sell-off, why the move is primarily a rate and technical story rather than broad credit deterioration, and how higher yields are reshaping the opportunity set. They also explore tax-loss harvesting and swapping, including how investors can potentially realize losses while maintaining municipal exposure and income. Jack explains what to consider when evaluating replacement bonds, from credit and duration to yield, pricing, transaction costs, and wash-sale rules. The conversation also looks at how strong new issuance and secondary-market selling are creating more choices for investors looking for relative value in today’s muni market.  Follow Us Twitter @NYLInvestmentsTwitter @MacKayMuniMgrsFacebook @NYLInvestmentsLinkedIn: New York Life InvestmentsLinkedIn: MacKay Municipal ManagersPresented by New York Life Investmentswww.newyorklifeinvestments.com  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. “New York Life Investments” is both a service mark, and the common trade name, of certain investment advisors affiliated with New York Life Insurance Company. SMRU: 8797309 Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

  2. Sep 18

    The Price of Money Has Changed

    The price of money has changed—and for municipal investors, that may be the most important story of the fall. In this episode, host Eric Kazatsky is joined by Jack Muller, Investment Strategist at MacKay Municipal Managers, to connect the dots between Treasuries, munis, supply, and the Fed. They discuss why the Fed no longer tells the whole rate story, what the Treasury's expanded buyback activity can—and can't—do for the long end, and why higher muni yields reflect the macro backdrop rather than credit deterioration. Jack breaks down a steeper curve that finally pays investors to extend, a record year of issuance that demand keeps absorbing, and the "Rubicon moment" that brings crossover buyers into the tax-exempt market. They close with the growing dispersion in municipal credit—upgrades in Illinois and New Jersey, pressure on local governments, school districts, higher education, and healthcare—and what persistent volatility means from here. Follow Us ●      Twitter @NYLInvestments ●      Twitter @MacKayMuniMgrs ●      Facebook @NYLInvestments ●      LinkedIn: New York Life Investments ●      LinkedIn: MacKay Municipal Managers   Presented by New York Life Investments www.newyorklifeinvestments.com 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. “New York Life Investments” is both a service mark, and the common trade name, of certain investment advisors affiliated with New York Life Insurance Company. SMRU: 8797059 Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

  3. Aug 21

    Finding Value After the July Sell-Off

    After one of the toughest Julys for municipal bonds in decades, opportunity may be picking up, but only for those who know where to look.  In this episode of the Muni 360 podcast, host Eric Kazatsky and guest Jack Muller dig into the forces behind the recent correction, what’s really happening with credit fundamentals, and how investors can position amid technical headwinds, political uncertainty, and shifting tax proposals. They break down the implications of the Missouri tax vote, what supply surges could mean for returns, and why higher yields should have muni buyers paying close attention right now. Whether you’re watching flows, digging for value, or weighing credit shifts, this conversation covers the essential market drivers you need to know. Watch the full episode now. Follow Us Twitter @NYLInvestments Twitter @MacKayMuniMgrs Facebook @NYLInvestments LinkedIn: New York Life Investments LinkedIn: MacKay Municipal Managers Presented by New York Life Investmentswww.newyorklifeinvestments.com 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. “New York Life Investments” is both a service mark, and the common trade name, of certain investment advisors affiliated with New York Life Insurance Company. SMRU: 8796789 Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

  4. Aug 20

    Robust Demand Absorbs a Heavier New-Issue Calendar

    Munis remain well-supported by investors   Follow Us Twitter @NYLInvestments Twitter @MacKayMuniMgrs Facebook @NYLInvestments LinkedIn: New York Life Investments LinkedIn: MacKay Municipal Managers Presented by New York Life Investmentswww.newyorklifeinvestments.com   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. “New York Life Investments” is both a service mark, and the common trade name, of certain investment advisors affiliated with New York Life Insurance Company. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

  5. Jul 31

    Post-Fed Muni Valuation Snapshot

    Muni valuations held steady post-Fed   Follow Us Twitter @NYLInvestments Twitter @MacKayMuniMgrs Facebook @NYLInvestments LinkedIn: New York Life Investments LinkedIn: MacKay Municipal Managers Presented by New York Life Investmentswww.newyorklifeinvestments.com   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. “New York Life Investments” is both a service mark, and the common trade name, of certain investment advisors affiliated with New York Life Insurance Company. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

  6. Jul 24

    Munis Stay Resilient

    Record Muni Supply: A Second-Half Outlook   Follow Us Twitter @NYLInvestments Twitter @MacKayMuniMgrs Facebook @NYLInvestments LinkedIn: New York Life Investments LinkedIn: MacKay Municipal Managers Presented by New York Life Investmentswww.newyorklifeinvestments.com   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. “New York Life Investments” is both a service mark, and the common trade name, of certain investment advisors affiliated with New York Life Insurance Company . Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

  7. Jul 17

    The Market Rewarded Discipline

    The first half of 2026 challenged many of the market assumptions investors started the year with. While headlines focused on inflation, interest rates, tariffs, and geopolitical uncertainty, the municipal bond market rewarded discipline instead. In this episode, host Eric Kazatsky is joined by Jack Muller for a midyear review of their 2026 outlook. They revisit the year's key themes, explain why technicals and investor demand have driven performance, and share where they continue to see value across the municipal market. Tune in to hear what worked, where opportunities remain, and what to watch in the second half of 2026. Follow Us Twitter @NYLInvestments Twitter @MacKayMuniMgrs Facebook @NYLInvestments LinkedIn: New York Life Investments LinkedIn: MacKay Municipal Managers Presented by New York Life Investmentswww.newyorklifeinvestments.com 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. “New York Life Investments” is both a service mark, and the common trade name, of certain investment advisors affiliated with New York Life Insurance Company. SMRU: 8796551 Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

  8. Jun 26

    Munis Stay Resilient

    Munis Stay Resilient as July Technicals Appear Supportive   Follow Us Twitter @NYLInvestments Twitter @MacKayMuniMgrs Facebook @NYLInvestments LinkedIn: New York Life Investments LinkedIn: MacKay Municipal Managers Presented by New York Life Investmentswww.newyorklifeinvestments.com   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. “New York Life Investments” is both a service mark, and the common trade name, of certain investment advisors affiliated with New York Life Insurance Company. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

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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.

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