Archive for February, 2015

January 2015 Monthly Commentary

February 25, 2015  |   Monthly Commentary   |     |   0 Comment

January 2015 The ad hoc monetary policy of the Global Central Banks and their “beggar thy neighbor” currency policies turned downright bizarre in January resulting in a sharp and unexpected rally in bond prices. On the morning of January 14th, the Swiss National Bank (SNB) shocked the capital markets by abandoning its exchange peg against the Euro currency. Since 2011, the SNB has consistently intervened in the currency market, selling the Swiss Franc against the Euro to ...

Financial Times – 2/9/15

February 13, 2015  |   Financial Times,In the News   |     |   0 Comment

“Rates are way too low and investors have made a mistake in thinking the Fed would tighten policy at the end of this year or in 2016,” said Michael Kastner, managing principal at Halyard Asset Management. “We are going to see investors sell short-dated bond holdings and interest rates will move higher as they come round to the view that the Fed may tighten policy a lot sooner than many thought.”