Credit Themes and State Policy Spotlight

The municipal bond market kicked off 2026 with strength but volatility, supply dynamics, and state-level policy are already shaping the road ahead.In this Weekly Wrap Up, host Eric Kazatsky is joined by Jack Muller, CFA, Credit Analyst at MacKay Municipal Managers, to break down the latest muni insights. They explore why munis have outperformed taxable fixed income so far this year, how richening ratios reflect continued demand, and why investors are keeping a close eye on credit fundamentals. The conversation zooms in on California’s improved fiscal outlook and the proposed wealth tax ballot initiative, as well as Florida’s potential property tax reform and what both mean for municipal credit.Follow UsTwitter @NYLInvestmentsTwitter @MacKayMuniMgrsFacebook @NYLInvestmentsLinkedIn: New York Life InvestmentsLinkedIn: MacKay Municipal ManagersPresented by New York Life Investmentswww.newyorklifeinvestments.comMacKay 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: 8683632 Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.