Goldman Delivers The Worst Possible News: “The Buyback Party Has Ended”

“Following years of prioritizing repurchases as a use of cash, corporations actually cut annual spending on buybacks by 11% in 2016 and executions YTD have plunged by 20% vs. last year. Meanwhile, authorizations YTD for new programs are proceeding at the slowest pace in five years.”

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Here’s Where Demand For Stocks Will Come From In 2017

It’s been no secret that the bid for equities in 2017 has been largely attributable to “mom and pop” coming late to the party and scrambling to catch the proverbial wave by piling into passive ETFs that track equity benchmarks.  Here at HR, we call that the “Sharon” money. Of course there’s been another perpetual bid…