Archive for April, 2014

March 2014 – Monthly Commentary

April 17, 2014  |   Monthly Commentary   |     |   0 Comment

March 2014 In last month’s update we speculated that the message from the Federal Reserve could soon become less accommodative as the new central bankers came to terms with the substantial liquidity sloshing through the financial system.  Just a week after publication, the Fed’s message took a decided turn at Chair Yellen’s first post-FOMC press conference.  The change in tone was delivered in three parts.  The first was the announcement that the Fed would continue to ...

Financial Times – 4/11/13

April 11, 2014  |   Financial Times,In the News   |     |   0 Comment

Michael Kastner, principal at Halyard Asset Management, said the growth potential for biotechs remained promising but the sector had become expensive. “In terms of investment stories, it's good for investors but prices have run up so much that I think we are seeing some aggressive traders pushing it around.” Asia and Europe feel the pain as US tech rout spreads  

Financial Times – 4/8/14

April 08, 2014  |   Financial Times,In the News   |     |   0 Comment

“We are at a very late stage in the high-yield rally,” says Michael Kastner, principal at Halyard Asset Management. “But people chasing yields look at how well these bonds did in the last couple of years and assume they can replicate that.” Junk bond investors dig deep for value

Financial Times – 4/3/14

April 03, 2014  |   Financial Times,In the News   |     |   0 Comment

“A strong jobs number should see the S&P 500 push through 1,900 as the data will force the doubters off the sidelines and back into stocks,” said Michael Kastner, principal at Halyard Asset Management. “If we get a weaker number the market will reset a little lower and wait for further data.” US equity bulls confident growth will speed up

Corporate Profit Growth Fuels Shareholder Returns through Dividends and Repurchases

April 01, 2014  |   Uncategorized   |     |   0 Comment

Corporate Profit Growth Fuels Shareholder Returns through Dividends and Repurchases Share repurchases by S&P 500 companies increased 19% in 2013 – with a total of $129.4 billion executed in the fourth quarter.  This was a 1% increase compared to the 3rd quarter and when combined with quarterly dividends, represents the second highest quarter of dollars returned to shareholders on record.  The previous high was recorded in 2007. The share reduction has been widely quoted as being ...