Stay Ahead with Our Latest Muni Market Insights
Stay Ahead with Our Latest Muni Market Insights
MUNICIPAL MARKET WEEKLY UPDATE · JULY 14, 2026
Half-Time Assessment
- Technicals driving municipal forces
- Taking score at half-time
- Are there spots the market is mispricing risk?
MUNI 360 PODCAST · JULY 17, 2026
The Market Rewarded Discipline
Eric Kazatsky and Jack Muller explain why discipline, strong technicals, and selective credit drove muni market performance in 2026.
LATEST EPISODES
Top 5 Municipal Market Insights from MacKay Municipal Managers
For more than 15 years, MacKay Municipal Managers’ Top 5 Muni Insights has provided a clear and concise outlook on the municipal bond market, highlighting key opportunities, emerging trends, and the essential factors investors should watch in the year ahead.
Discipline Drives Differentiated Results
Discipline Drives Differentiated Results
Top 5 Municipal Market Insights from MacKay Municipal Managers
For more than 15 years, MacKay Municipal Managers’ Top 5 Muni Insights has provided a clear and concise outlook on the municipal bond market, highlighting key opportunities, emerging trends, and the essential factors investors should watch in the year ahead.
2026 Mid-Year Status: Discipline Drives Differentiated Results
ON TARGET Essential service munis lead in 2026, proving revenue resilience
ON TARGET Investment grade curve positioning drives returns in 2026
PENDING Dispersion of high yield muni fund returns puts onus on credit selection vs. income
ON TARGET Intermediate taxable municipals elevate multi-asset portfolios
ON TARGET Complement passive SMA exposure by adding more flexible product
On Target
Essential service munis lead in 2026, proving revenue resilience
On Target
Investment grade curve positioning drives returns in 2026
Pending
Dispersion of high yield muni fund returns puts onus on credit selection vs. income
On Target
Intermediate taxable municipals elevate multi-asset portfolios
Pending
Complement passive SMA exposure by adding more flexible product
Top 5 Municipal Market Insights from MacKay Municipal Managers
For more than 15 years, MacKay Municipal Managers’ Top 5 Muni Insights has provided a clear and concise outlook on the municipal bond market, highlighting key opportunities, emerging trends, and the essential factors investors should watch in the year ahead.
Discipline Drives Differentiated Results
Discipline Drives Differentiated Results
Discipline Drives Differentiated Results
ON TARGET Essential service munis lead in 2026, proving revenue resilience
ON TARGET Investment grade curve positioning drives returns in 2026
PENDING Dispersion of high yield muni fund returns puts onus on credit selection vs. income
ON TARGET Intermediate taxable municipals elevate multi-asset portfolios
PENDING Complement passive SMA exposure by adding more flexible product
On Target
Essential service munis lead in 2026, proving revenue resilience
On Target
Investment grade curve positioning drives returns in 2026
Pending
Dispersion of high yield muni fund returns puts onus on credit selection vs. income
On Target
Intermediate taxable municipals elevate multi-asset portfolios
ON TARGET
Complement passive SMA exposure by adding more flexible product
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Why MacKay Municipal Managers
Rely on the leaders in active municipal investing for a time-tested approach from a tenured team.
Investment Solutions from the Minds Behind Munis
MacKay Municipal Managers delivers a suite of municipal bond solutions, available in multiple structures.
Explore Insights from MacKay Municipal Managers
Why MacKay Municipal Managers
Rely on the leaders in active municipal investing for a time-tested approach from a tenured team.
Investment Solutions from the Minds Behind Munis
MacKay Municipal Managers delivers a suite of municipal bond solutions, available in multiple structures.
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About MacKay Municipal Managers™
MacKay Municipal Managers™ is a recognized leader in active municipal bond investing and is entrusted with $XX billion in assets under management, as of December 31, 2025. The team manages a suite of highly rated municipal bond solutions available in multiple vehicles. MacKay Municipal Managers™ is a fundamental relative-value bond manager that combines a top-down approach with bottom-up, credit research. Our investment philosophy is centered on the belief that strong long-term performance can be achieved with a relative value, research driven approach in a highly fragmented, inefficient municipal bond market.
About MacKay Shields LLC
MacKay Shields LLC (together with its subsidiaries, "MacKay")**, a New York Life Investment Management company, is a global asset management firm with $158B billion in assets under management*** as of September 30, 2025. MacKay manages fixed income strategies for high-net worth individuals and institutional clients through separately managed accounts and collective investment vehicles including private funds, collective investment trusts, UCITS, ETFs, closed end funds and mutual funds. MacKay provides investors with specialty fixed income expertise across global fixed income markets including municipal bonds, high yield bonds, investment grade bonds, structured credit, and emerging markets debt. The MacKay Shields client experience provides investors direct access to senior investment professionals. For more information, please visit www.mackayshields.com or follow us on Twitter or LinkedIn.
** MacKay Shields is a wholly owned subsidiary of New York Life Investments Holdings LLC, which is wholly owned by New York Life Insurance Company. "New York Life Investment Management" is both a service mark, and the common trade name of certain investment advisers affiliated with New York Life Insurance Company.
*** Assets under management (AUM) as of December 31, 2025 represents assets managed by MacKay Shields LLC and its subsidiaries but excludes certain accounts and other assets over which MacKay Shields continues to exercise discretionary authority to liquidate but which are no longer actively managed.
About Risk
Municipal Bond risks include the ability of the issuer to repay the obligation, the relative lack of information about certain issuers, and the possibility of future tax and legislative changes, which could affect the market for and value of municipal securities. Bonds face interest-rate and credit risk. When interest rates rise, bond values can decrease, and there's a risk that the issuer may not pay interest or principal on time.
High-yield or “junk bonds” are speculative due to their higher risk of loss compared to higher-quality securities. Municipal bonds issued by or on behalf of states or municipalities may experience increased volatility as a result of adverse fiscal, economic, or political developments affecting those issuers.