“A Bronx Tale” is on all week so I can’t help but watch some before bed each night. Who knew Sonny had such great advice for Wall Street?
1.Top 10 Spends a Fair Amount of Space on Buybacks…..Buybacks Peaked and Market Keeps Humming!
Josh Brown-The Reformed Broker.
The truth is, however, that buybacks may have peaked for the cycle a year or two ago. Which, if you’re blaming monetary policy for their prevalence, would make sense. The Fed’s tapering off of monthly QE began in 2014, and the Fed Funds hikes began in December of 2015. We’ve been in a tightening environment – in both word and deed – for three years now.
Bank of America looks at its corporate clients’ buyback activity and finds quite a drop-off year-to-date:
Buybacks by our corporate clients picked up last week to typical April levels, but year-to-date are tracking their lowest of any comparable period since 2013 and are down nearly 30% YoY—suggesting less of a boost to corporate EPS from buybacks.
Another Bear Scare Gets Put in the Bathroom
“Put him in the bathroom” A Bronx Tale
www.yahoofinance.com
