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, comments on
the current state of corporate debt markets.
Wall Street Journal –
(login required) –
December 5, 2007
Asset-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 Gain as Report Shows Core
Inflation Rate Fell
"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