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...With the S&P 500 approaching its record peak from March, the rising tide of buybacks shows little sign of easing, said Mr Kastner....
...“It is an enormous deal,” said Michael Kastner, a managing principal at Halyard Asset Management....
...“Bankers want to push deals and issuers are looking to take advantage of lower yields,” said Michael Kastner, managing principal at Halyard Asset Management....
...“The demand for bonds has been so great in recent years that people have looked beyond the credit rating as they just want yield – any type of yield,” says Michael Kastner of Halyard Asset Management....
...“When things get sloppy, it can be tough to get out of certain fixed-income products,” says Mr Kastner....
...Michael Kastner, principal at Halyard Asset Management, said the growth potential for biotechs remained promising but the sector had become expensive....
...“Given the size of this deal and in order to attract a large pool of investors, concession may have to be such so that these bonds have to become profitable pretty soon,” said Michael Kastner, principal...
...“Verizon will be an enormous deal and has the potential to destabilise the market or be the catalyst for a rebound in corporate bond sentiment,” says Michael Kastner, principal at Halyard Asset Management...
...bond investor you don’t want to buy debt which is being used to fund share buybacks, but in the case of Apple, it’s a drop in the ocean compared to the size of their overall cash holdings,” said Michael Kastner...
...“Corporations are really coming out of the woodwork after earnings season to sell debt and buy back stock,” says Michael Kastner, principal at Halyard Asset Management....
...“Demand is very high for floaters and we have a big appetite for them,” said Michael Kastner, a principal at Halyard Asset Management....
...Michael Kastner, a principal at Halyard Asset Management, said US Treasury yields look vulnerable if economic data surprises positively....
...“It’s been a one-way street for a long time,” says Michael Kastner, principal at Halyard Asset Management....
...“The Street has less appetite for bonds, and when ETFs need to sell, there is potential for an ugly reversal,” says Michael Kastner, a principal at Halyard Investment Management....
...As a teenager in 1944 he escaped the threat of Nazi extermination in Hungary on the Kastner train that carried Jewish refugees from Budapest to Switzerland....
...“Even with lowered expectations, earnings could disappoint and place stocks under pressure,” said Michael Kastner, principal at Halyard Asset Management....
...“It’s such a broadly known name and small investors who bought into the stock were expecting an immediate payday, only for the story to turn ugly,” said Michael Kastner, principal at Halyard Asset Management...
...Mr Kastner said buyers of company bonds should sell Treasuries and futures to make sure their portfolios were not exposed to changing interest rates....
...“These companies are funding themselves at remarkably cheap rates,” said Michael Kastner, principal at Halyard Asset Management....
...“If you want to edge back into the market, then defensive high dividend paying and big name stocks are the way for some investors,” says Michael Kastner, principal at Halyard Asset Management....
...“It’s not too early to call the end of the bond bull market,” agrees Michael Kastner, principal at Halyard Asset Management....
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