New York Life Bets On Long-Duration Munis As Tax-Free Yields Heat Up

New York Life Investments launched a new actively managed municipal bond ETF, designed to serve those investors wanting to attain higher levels of tax-exempt income with interest rates near record highs. • What’s ahead for MMCA stock?The company launched the NYLI MacKay Muni Allocation ETF (NYSE:MMMA) , a strategy that combines a core allocation to predominantly long-duration, investment-grade municipal bonds with a tactical sleeve in high-yield munis. The strategy is designed to balance income generation ...