Archive for June, 2014

May 2014 – Monthly Commentary

June 17, 2014  |   Monthly Commentary   |     |   0 Comment

As our clients are aware, the basis of our investment thesis is that interest rates have been artificially depressed by the Federal Reserve’s bond buying program and that as the operation concludes, interest rates will normalize at higher levels.  That thesis has been challenged this year, and especially so in last month.  Ironically, May was the first month that economic data hadn’t been skewed by the cold snowy weather much of the country endured during ...

Financial Times – 6/2/14

June 02, 2014  |   Uncategorized   |     |   0 Comment

Michael Kastner, principal at Halyard Asset Management, said: “It’s embarrassing for ISM, we usually get a revision a month or so later.” After the initial print that was softer than expected, Mr Kastner said: “I was scratching my head when it came that low.” US data mix-up sparks market swings