1.For the Bull to End …This Chart Would Need to Reverse.





Over the past two decades, U.S. companies bought back vastly more stock than they issued. On net, according to a new paper by Craig Doidge and colleagues, companies purchased $3.6 trillion more stock than they offered. Stock buybacks are a perfectly appropriate way to return value to shareholders, but the disparity is still surprising.
https://www.uschamberfoundation.org/blog/post/are-capital-markets-healthy-some-thoughts-corporate-concentration-and-dwindling-public
Found at Abnormal Returns Blog www.abnormalreturns.com
A Big Test for BondsThis week’s planned $294 billion of U.S. debt sales — the largest slate of supply ever — point to “a volatile near-term path for the Treasury market,” according to Bank of Montreal. The auctions begin with Monday’s $30 billion two-year note sale, which will be the biggest since 2014.
