Topley’s Top 10 – August 21, 2020

1. Stock Buybacks Down 46% In 2nd Quarter…Lowest Since 2012.

Dave Lutz at Jones Trading —Provisional figures show the total spent on buybacks by companies in the S&P 500 was about $89.7bn, according to S&P Dow Jones Indices, down 46 per cent from the same quarter last year.

PKW Buyback ETF -11% vs. SPY +5%

2. High-Yield Bond Trading Volumes Have Returned to Normal Levels.


3.  U.S. Dollar Weakness….Dollar About to Break Thru 200 Day Moving Average on Chart…Falling Back to 2018 Levels.

UUP-Dollar right on 200 day moving average long-term weekly chart

4. Technology Equipment Spending Rose to a Record 50% of Total Capital Spending During 2nd Quarter