1.Dwindling Public Stock….In the Past 20 Years, U.S. Companies Purchased Back $3.6 Trillion More Than They Offered

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

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1.This Week is the Largest Supply of U.S. Debt Sales Ever. 

 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.

https://www.bloomberg.com/news/articles/2018-03-26/-vulnerable-stocks-and-record-u-s-debt-sales-dominate-the-week

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1.IVV Second Largest ETF Behind SPY-Big Redemptions Last Week..Over 3% of Assets in One Week.

From Ned Davis Research… www.ndr.com

Last Week’s Top ETF Redemptions

http://www.etf.com/sections/daily-etf-flows/etf-fund-flows-2018-03-23?nopaging=1

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1.Libor Represents a Benchmark Proxy for Short-Term Rates.

$350 Trillion of Financial Products are Linked to Libor.

https://fred.stlouisfed.org/series/USD3MTD156N

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Loyola Chicago Added Volatility to Everyone’s NCAA Pool as Trade Wars Add Vol to Markets.

1.After No Volatility in 2017….Six Sessions of 20% Moves in VIX 2018.

Volatility has been extremely, well, volatile this year.

The Cboe Volatility Index VIX, -1.84%  has seen multiple days with extremely sharp moves so far in 2018, including on Thursday, when it jumped 30.7% to 23.35.

According to data from the WSJ Market Data Group, the so-called “fear index” has experienced six sessions this year that saw a jumped of least 20%, along with one day that saw a 20% drop. Notably, volatility more than doubled on Feb. 5, amid the start of a steep selloff in the U.S. stock market spurred by inflation concerns.

The tally of seven sessions stand as the most one-day 20% moves in a calendar year since 2014, when there were also seven throughout the entire year. Looking solely at the six 20% increases, the total is the most for a calendar year since 2015, when there were also six.

There’s been a historic amount of earthshaking stock-market volatility this year

By Ryan Vlastelica

https://www.marketwatch.com/story/theres-been-a-historic-amount-of-earthshaking-stock-market-volatility-this-year-2018-03-22

VIX Volatility Index in 2018

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