Treasuries-Bonds Fall With Lack of Buyers at 50-Year
Yield Lows
"The street is really very long Treasuries," Michael Kastner, head
of fixed income at Sterling Stamos Capital Management in New York
said of the bond sell-off.
Reuters – December 5, 2008
Rates Cure Offers Little Relief for Housing
"We need to see the Treasury buy mortgages and tell the market they are
doing that," said Michael Kastner, managing director of fixed income
at Sterling Stamos Capital Management. "That will help narrow
mortgage spreads, even while Treasury yields rise."
Financial Times – November 11, 2008
Frannie Mae, Freddie Mac Debt Soars on Takeover Talk
If assumed by the government, Frannie Mae and Freddie
Mac's debt would be seen as safe as Treasury bonds, said Michael
Kastner, head of fixed-income at Sterling Stamos Capital Management in
New York.
Reuters – July 13, 2008
Green Power—Its Time Is Now
“The implications of the shift to clean energy and technology are
profound,” says Peter Stamos, founder, Chairman, and CEO of
Sterling Stamos Capital Management. “Clean energy and technology
is, in our view, a several hundred billion dollar opportunity.”
Merrill Lynch Advisor – June 2008
Counterparty Risk Gets Takers
Michael Kastner, a managing director of fixed income at Sterling
Stamos, said diversification is key: "We're making sure we monitor
those counterparties and try and have as many as we can to stay
nimble," he said.
Wall Street Journal – (login required) – June 18, 2008
Finance Firms Find Plenty of Takers in Bids to Raise
Capital
"There's basically demand up and down the capital structure," said
Michael Kastner, head of fixed income at Sterling Stamos Capital
Management in New York.
Wall Street Journal – (login required) – May 10, 2008
New Supply Hits Soft Market; Jobs Data Eyed
In the secondary market, there is "excess supply" of bonds issued by
financial firms such as banks and brokers, said Michael Kastner, Head
of Fixed Income at Sterling Stamos Capital Management. "Everyone's
afraid to see another wave of write-downs, and they don't want the
exposure."
Dow Jones – March 4, 2008
Bullish Investors Keep Faith with Treasury Trade
"Without exception, there is a lot of talk about the steepening trade
among dealers," says Michael Kastner, portfolio manager at Sterling
Stamos. "They are all saying the curve has more room to steepen."
Financial Times – February 20, 2008
New Figures Suggest that US Might be in Recession
"At this point, I do not think anyone will be surprised if we see
growth for the fourth quarter revised below zero, followed by a
negative first quarter," said Michael Kastner, portfolio manager at
Sterling Stamos.
Financial Times – February 5, 2008
Credit Squeeze Casts Shadow over US
"There is a very sour tone between the Street and investors," said
Michael Kastner, portfolio manager at Sterling Stamos. "The Street is
not supporting the secondary market and we are seeing a buyers' strike
among investors."
Financial Times – January 7, 2008
Bearish Start as Investors Stay in Hibernation
“Macro players are buying credit default swaps,” said
Michael Kastner, portfolio manager at Sterling Stamos. “While
caution dominates the market at present, that may change in the next
few weeks.”
Financial Times – January 7, 2008
Treasuries-Bonds Dive as Joint Fed Action
Boosts Stocks
"Obviously, with everyone else I thought that yesterday was way too
little and it seemed that they were not understanding the severity of
the credit crunch we were heading into," said Michael Kastner, head of
fixed income, at Sterling Stamos Capital Management in New York.
Reuters –
December 12, 2007
Markets Confused by Banks’ Aid
The Business –
December 13, 2007
Investment-Grade Firms Find it Cheaper to
Sell Debt
Michael Kastner, Head of Fixed Income at Sterling Stamos, cMarkets Confused by Banks’ Aid
The Telegraph –
December 13, 2007
Investment-Grade Firms Find it Cheaper to Sell Debtsset-Backed Securities Feel the Subprime
Pinch
"Traders would call this a buyer's strike," said Michael Kastner,
managing director at Sterling Stamos. "There is uncertainty about the
collateral, and any paper that comes in is discounted."
Wall Street Journal –
(login required) –
August 13, 2007
Bond Yields Spark Credit Concerns
"Stocks need to reflect what bond yields are saying,"
said Michael
Kastner, portfolio manager at Sterling Stamos. "Rate cuts have been
taken away and, if yields start to reflect that rate hikes are likely
this year, then it will get pretty ugly for stocks."
Financial Times –
June 8, 2007
Japan Honors Norman Mineta, Daniel Okimoto
On Saturday, April 28
th, the
Consulate General
of Japan in San Francisco announced that Professor Daniel I. Okimoto,
Chairman of Sterling Stamos Global Institute and Asia Strategy Group,
will receive the 2007 Spring Conferment of Decoration ("The Order of
the Rising Sun") for his contribution to the promotion of scholarship
and academic exchange between Japan and the US. Professor Okimoto is
one of only 38 non-Japanese nationals to receive this honor this year.
Silicon Valley San Jose Business Journal –
June 6, 2007
Indices Hold Steady as Psychological
Benchmarks Near
"Dow 13,000 is not necessarily the magic number for a
reallocation of
money from bonds into stocks," said Michael Kastner, portfolio manager
at Sterling Stamos. But Mr. Kastner said "low interest rates and
better- than-expected earnings are encouraging investors to switch out
of bonds into stocks. Investors will chase returns."
Financial Times –
April 24, 2007
US Treasuries Rise Most in a Month as Core Inflation Declined
"Inflation was below expectations, which has to cheer the Fed," said
Michael Kastner, head of fixed-income strategy at New York-based
Sterling Stamos Capital Management, which oversees $3.2 billion. "The
numbers emboldened buyers to start to see some movement to lower rates."
Bloomberg – April
17, 2007
Is
Japan's support for US on the wane?
Dan Okimoto, Chairman of the Sterling Stamos Global Institute, on
US-Japan relations.
Christian Science Monitor –
June 29, 2006