A bit of an ICYMI from a GS note, this is not breaking - from overnight news.
Corporate buybacks are "plummeting"
- Data used by GS shows that while Q2 S&P 500 share buybacks totalled USD161 bn, that is nearly 20% lower than in Q1
- and circa down 17% y/y
As for the rest of the year, GS expect:
- buybacks will drop 15% to USD710bn
- and in 2020 down 5% 675 bn
There is a but though - the levels are still near record highs.
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Buybacks have been one source of support for equity markets. not the only one though.