Explore every episode of the podcast Market Matters from New York Life Investment Management

The 2017 Tax Cuts and Jobs Act included tax cuts for households that are set to expire in 2025. How might tax policy evolve, and what does it mean for investors? Scott Sprauer of MacKay Municipal Managers joins host Lauren Goodwin to discuss all things tax policy and tax efficiency for investors. 

This episode shares the political landscape ahead of the 2024 U.S. election with Jon Paone and Kerry Cole, members of New York Life Insurance Company’s Office of Government Affairs.  

The Federal Reserve went big, starting its easing cycle with a 50bp interest rate cut. Does the pace of easing matter? How far will the Fed go? How do allocation decisions change on the way down? Lauren Goodwin and Julia Hermann talk through each of these questions this week on Market Matters. 

The first debate between Donald Trump and Kamala Harris has investors talking about what’s at stake in the U.S. election and who could win. Host Lauren Goodwin welcomes Jeff Bush of the Washington Update for his take on all things politics. 

Commercial real estate has been in the news for its risks – related to office space – but interest rate turning points may be creating a generational opportunity for allocation. Simon Martin of Tristan Capital Partners and Thomas O’Hanlon of NYL Real Estate join host Lauren Goodwin to assess that turning point and how to manage it. 

Investors have flocked to private credit as higher interest rates meant higher yield.  Now, with interest rates moving lower, credit managers are looking for differentiated sources of value add. Host Lauren Goodwin speaks with Patrick Koehl of Apogem Capital and Julien Rigon of Kartesia to identify how borrowers are faring, which areas of the asset class are most attractive, and how best to capture that potential.

Private equity has been at a standstill for the last several quarters, but is that changing? Louise Smith of Apogem Capital joins host Lauren Goodwin to discuss the private equity landscape: capital conditions, opportunities, risks, and allocation ideas. 

Private markets are now accessible by retail investors, but is it a good thing? Jeremy Held of Bow River Capital joins host Lauren Goodwin to discuss the democratization of alts, associated risks, potential opportunities, and how investors can consider these dynamics for their portfolio.

Introducing: a new Global Private Markets Outlook from New York Life Investments. Lauren Goodwin shares how changes in the economy and capital markets are disrupting – and opening – this space. This episode is the first in a series of episodes sharing our view both from the macroeconomic perspective and from the on-the-ground perspective of our private markets investment teams.  

Q2 earnings season is underway... what will it take to make the podium, and where are the disappointments? Julia Hermann and Michael LoGalbo commentate on this competition from the sidelines. 

The 2024 election season is already shaping up to be one of the wildest in history. With three and a half months until election day, Lauren Goodwin and Michael LoGalbo share how investors can stay about the noise and focus on policy, not politics when it comes to what could drive markets this year.

It’s midyear Macro Pulse time! Lauren Goodwin, Julia Hermann, and Michael LoGalbo share their midyear outlook, including an updated economic view, thoughts on the Fed, why small caps are rallying, and their best allocation ideas. 

Our Fed cut checklist has been valuable tool for gauging this Fed's patient policy. For the last two years, only one of our four conditions was met. Now, others are falling in line. Lauren Goodwin and Julia Hermann discuss how recent data may finally bring a Fed pivot – and what that means for investors.  

France and the UK have gone to the polls – with stakes that feel similar, but diverging market reactions. Lauren Goodwin and Julia Hermann discuss the lessons for investors on both sides of the pond. 

Lauren Goodwin hosts Alex Cook, Head of Strategic Capabilities at New York Life, as they explore how artificial intelligence is ushering in transformation at New York Life. They focus on AI’s practical applications, ethical considerations, and the future impact of AI on client and company outcomes. 

The infrastructure required to enable the AI boom is daunting – and presents investment opportunities across the real estate spectrum. Julia Hermann hosts Simon Martin, Chief Investment Strategist at Tristan Capital Partners, to explore the next phase of the AI buildout in the U.S. and Europe. 

With AI moving at lightning speed, venture capital offers a unique perspective into the pipeline of companies at the forefront of generative AI technology, related services, and infrastructure. Joel Albarella, Head of NYL Ventures, joins Julia Hermann to discuss this vantage point into AI investing.

We can easily imagine a future state with AI at the center of innovation and investment. For investors, the most important question is: what does it take to get there? For Lauren Goodwin, Julia Hermann, and Michael LoGalbo, AI is an investment megatrend with long term impacts, but with investable approaches that are actionable today. 

Geopolitical risk has so much impact on navigating the markets, but can feel impossible to position around. Lauren Goodwin, Julia Hermann, and Michael LoGalbo talk through their framework for how geopolitical risks make their way into portfolios, and discuss investment approaches that can seek to protect against – or benefit from – macro volatility.  

Commercial real estate has been considered a simmering risk for the U.S. economy. But amid pockets of stress, investors can find opportunity. Julia Hermann is joined by Jon Miniman, Global Portfolio Manager at CBRE Investment Management, for a look under the hood of listed real estate. 

A year after a near-crisis, U.S. banks are showing resilience. But with interest rate moves, an economic slowdown, and normalization from a pro-liquidity environment ahead, what is next for the banking sector? Julia Hermann hosts a comprehensive status update with Portfolio Manager and Credit Analyst Mark Kehoe of MacKay Shields. 

NYLIM’s Global Market Strategy team is handing listeners their allocation playbook. Lauren Goodwin, Julia Hermann, and Michael LoGalbo have teamed up to stack up their macro views, allocation approaches, and specific asset class views to help investors navigate not just this cycle, but the next. 

This week on the podcast, Lauren Goodwin, Julia Hermann, and Michael LoGalbo launch their new economic outlook series: Macro Pulse. Tune in for their updated views on the global macro cycle themes impacting asset allocation.

The U.S.-China tech relationship has risen to the top of many investors’ geopolitical concerns. From TikTok to chip production, the past few weeks have seen several developments in this relationship, carrying both risks and opportunities. Tune in as Lauren Goodwin and Julia Hermann unpack this long-term market force. 

New data on immigration into the U.S. has sparked new discussions among economists. Is it the missing link to explain strong economic growth? Lauren Goodwin and Julia Hermann discuss what they learned – and what they didn’t – from the recent figures.  

The Bank of Japan’s historic decision to end its Negative Interest Rate Policy has far-reaching implications for global investors. Lauren Goodwin and Julia Hermann discuss the shifts in Japan’s economy that allowed for this policy adjustment, and what it means for government bond demand and the long-term path of global interest rates. 

2 months of slightly-too-hot inflation. A Fed meeting this week. A market eager for interest rate cuts. Lauren Goodwin and Julia Hermann are standing by their base case and sharing updated scenarios for prices ahead.  

The dollar’s up – but what does a strong dollar really mean for investors? Julia Hermann and Michael LoGalbo navigate the maze of recent short-term dollar movements and how this can translate into an international investing approach.  

This week, Super Tuesday marks a major point of progress in the 2024 U.S. president election. As candidates’ policies firm up, Lauren Goodwin and Julia Hermann give investors a guide to what’s still outstanding in the primaries, key policies on the table, and how to spot policy-based opportunities.  

The market’s late cycle jitters have been assuaged by the persistent AI trend, with a single company in the forefront. Lauren Goodwin and Julia Hermann dissect this year’s equity market leadership, and what investors can do when opportunities feel concentrated. 

China’s economic woes have been in the news lately, but investors’ picture is more dynamic: should we focus more on the risks of China’s old economic model, or the opportunities of its new one? Valentina Chen, co-head and portfolio manager of MacKay Shields’ emerging markets debt team, joins the podcast to share her perspective. 

Forecasts of short-term rates driven by Fed policy have been ever changing, but after the recent inflation print, it seems as though Fed Funds may have peaked. Investors looking to capture yields before they move lower may be able to do so through the bond market. Host Lauren Goodwin is joined by Thomas Musmanno and John Lawlor of MacKay Shields to discuss opportunities in short duration. 

Even with inflation and the jobs market both running hot, many investors are convinced of an imminent cut in interest rates. Lauren Goodwin and Julia Hermann discuss how the Fed’s shift in tone has contributed to this renewed investor debate. 

While the coming year is full of uncertainty, we’ve observed that much of the financial community is hugging consensus views around inflation, interest rates, and the likelihood of recession. In this episode, we discuss another three “black swan” risks that have the potential to disrupt investor consensus.

While the coming year is full of uncertainty, we’ve observed that much of the financial community is hugging consensus views around inflation, interest rates, and the likelihood of recession. In this episode, we discuss three “black swan” risks that have the potential to disrupt investor consensus.

New year, new views. Lauren Goodwin and Julia Hermann kick off their 2024 podcasting adventures with the key questions they see driving investment outcomes in the coming months. 

‘Twas NYLIM before Christmas… curl up by the fire for the final episode of Market Matters in 2023. Julia Hermann shares her ode to the markets. 

As 2023 draws to a close, the market has enjoyed some relief from the steady rise in interest rates. Lauren Goodwin and Julia Hermann look into why yields have been declining, and what investors can expect for 2024. 

In our 2024 Outlook, choose your own adventure. Lauren Goodwin, Julia Hermann, and Michael LoGalbo explore scenarios for 2024 along with the actionable investment ideas that can help investors navigate the coming year confidently, no matter where they end up on the map. 

The themes pervading 2024 investment outlooks – Fed tightening, chance of recession, and market volatility – are little changed from the start of the year. But much in the economy has shifted. Lauren Goodwin, Julia Hermann, and Michael LoGalbo cover the signposts for their base case view of 2024. 

The fates of the U.S. corporate sector and labor market are closely entwined, and in this cycle, labor hoarding by large companies has contributed to strong job creation and wage growth. As cost pressures mount for companies, though, can this dyamic continue? Tune in to the debate between Lauren Goodwin and Julia Hermann this week on the Market Matters podcast. 

We are one year away from the 2024 U.S. election, an it’s not too early to consider it’s impact on portfolios. Lauren Goodwin and Julia Hermann unpack their fundamental election year investment principles – and the politics might matter less than you think. 

The U.S. Treasury yield curve has been inverted for over a year, but with longer dated Treasury yields rising fast, markets may be in for a shift. Lauren Goodwin and Julia Hermann unpack the relatively rare occurrence of today’s bear steepener, including what it means for interest rate-sensitive investments. 

With geopolitical risk front and center, Lauren Goodwin and Julia Hermann consider the impacts of a potential oil shock on the global economy and investors’ opportunity sets across asset classes. 

The last week – and the last few years – have shown that risks or shocks to investing are always possible. Lauren Goodwin hosts Alexandra Russo of Candriam to discuss how investors may take stock of the unforeseeable.  

Fiscal and budget debates have been recurrent this year, yet monetary policy is usually front of mind for investors. Lauren Goodwin and Julia Hermann check in on the investment implications of the federal government’s financial bill of health. 

A government shutdown has been avoided, but investors may still face a “wall of worry”. Lauren Goodwin and Julia Hermann discuss the recent bout of market indigestion and bright spots for investors.  

As investors seek opportunities to end a volatile year, uncertainty can lend itself to positioning in the extremes: chasing narrow rallies, or sitting it out entirely. To help investors navigate this balance, Lauren Goodwin, Julia Hermann, and Michael LoGalbo focus on two questions: How can I participate in the AI boom? And is commercial real estate the next big risk? 

As uncertainty about recession, inflation, and interest rates has increased, asset allocation decisions have become more difficult for many investors. But there are always opportunities, even as macro and market gears shift. The full multi-asset team at New York Life Investments joins this episode to present part 1 of their Q4 Outlook. Lauren Goodwin, Julia Hermann, and Michael LoGalbo identify and answer four key questions standing in the path of investors in the last quarter of the year.  

In their Financial Futures special series, Lauren Goodwin and Julia Hermann host leaders from across New York Life to discuss approaches that help listeners prepare and pursue their financial futures their financial futures. This week, Lauren and Julia host Jose Barros, Chief Operating Officer of U.S. Distribution at New York Life Investments, to discuss how outcomes-based investing can refresh and investors’ approach to setting goals.