Archive for February, 2013

Financial Times – 02-26-13

February 28, 2013  |   Uncategorized   |     |   0 Comment

“The equity market looks a little bit expensive, with some blue-chips trading at frothy levels, especially as earnings expectations continue coming down for this year,” says Michael Kastner, principal at Halyard Asset Management. “I am sceptical about some of the bullish analysts’ earnings forecasts, and there is a big question over the profits outlook for this year given the current economic situation.” Wall St turbulence sparks valuation fears

Euroinvestor – 2/13/13

February 20, 2013  |   In the News   |     |   0 Comment

"If we focus back on the sequester, we could actually see yields fall a little more before getting to higher levels," said Michael Kastner, principal at Halyard Asset Management. Mediocre Sale Sets Treasurys Back for Third-Straight Session

January 2013 – Commentary

February 14, 2013  |   Monthly Commentary   |     |   0 Comment

Despite the ongoing effort of the Federal Reserve to manipulate bond prices higher, the market experienced a mild bear market in January.  For the month, the price of the benchmark 30-year Treasury note fell more than 4% as investors reallocated money out of bonds and into stocks.  The selling was disproportionately focused on maturities of 5-years and longer as the Fed continued to espouse its “low rates for a long time” mantra. Despite the correction in ...

Financial Times – 02/05/13

February 06, 2013  |   Financial Times,In the News   |     |   0 Comment

“It’s been a one-way street for a long time,” says Michael Kastner, principal at Halyard Asset Management. “This time last year it was a lot easier to buy investment grade bonds, but now rates are very low. You don’t need to see rates rise that much in order to erode a small coupon.” Investors face end of big US bond returns