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Welcome to MainStay Market Pulse, a video series developed to provide you with timely insights and perspectives on the economy and markets.

This month's MainStay Market Pulse features Jon Swaney, Portfolio Manager in the multi-assets division, and Poul Kristensen, Economist and Portfolio Manager.

October 2013 Update

Taped on September 23, 2013. Past performance is no guarantee of future results.

The principal risk of investing is that the price of the security may not approach its anticipated value or may decline in value, including possible loss of principal. Treasurys are backed by the full faith of the United States government and if held to maturity, offer a fixed rate of return and fixed principal value.

The information and opinions herein are for general information use only. The opinions reflect those of the presenters but not necessarily that of New York Life Investment Management LLC (NYLIM). NYLIM does not guarantee their accuracy or completeness, nor does New York Life Investment Management LLC assume any liability for any loss that may result from the reliance by any person upon any such information or opinions. Such information and opinions are subject to change without notice and are not intended as an offer or solicitation with respect to the purchase or sale of any security or as personalized investment advice.

There can be no guarantee that any projection, forecast, or opinion in these materials will be realized.

For more information about MainStay Funds®, call 800-MAINSTAY (624-6782) for a prospectus or summary prospectus. Investors are asked to consider the investment objectives, risks, and charges and expenses of the investment carefully before investing. The prospectus and summary prospectus contain this and other information about the investment company. Please read the prospectus or summary prospectus carefully before investing.

MainStay Investments® is a registered service mark and name under which New York Life Investment Management LLC does business. MainStay Investments, an indirect subsidiary of New York Life Insurance Company, New York, NY 10010, provides investment advisory products and services. The MainStay Funds® are managed by New York Life Investment Management LLC and distributed through NYLIFE Distributors LLC, 169 Lackawanna Avenue, Parsippany, NJ 07054, a wholly owned subsidiary of New York Life Insurance Company. NYLIFE Distributors LLC is a Member FINRA/SIPC.

"New York Life Investments" is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.