Archive for August, 2014

Mike Kastner on CNBC – 8/19/14

August 19, 2014  |   In the News   |     |   0 Comment

CNBC's Jeff Cox, and Michael Kastner, Halyard Asset Management, discuss why retail investors are steering clear of junk bonds while institutional money is buying. One investor's junk (bond) another's treasure http://video.cnbc.com/gallery/?video=3000303435

Financial Times – 8/11/14

August 12, 2014  |   Financial Times,In the News   |     |   0 Comment

Michael Kastner, principal at Halyard Asset Management, says relationships with banks “are not nearly as close as they once were” given the shifting regulatory backdrop. This has spurred Mr Kastner to hold “liquid” fixed-income securities – or those that can more easily be sold. He says he is steering clear of certain bonds, such as asset-backed instruments whose so-called secondary markets are not deep. “When things get sloppy, it can be tough to get out of certain ...

July 2014 Monthly Commentary

August 07, 2014  |   Monthly Commentary   |     |   0 Comment

Continued improvement in the economy and the realization that interest rates may rise sooner than expected resulted in a mild upward drift in interest rates in July as trading volume slowed. The headline news during the month was that after nearly two years of wrangling and resistance, the Securities and Exchange Commission on July 23rd changed the operational rules for money market funds.  The next day the Wall Street Journal reported that “U.S. regulators approved rules ...