CNBC Reports On A Share Buyback Slowdown. Here We Go… BofA Calls It: The Top Is In For The Market

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  • Corporate America’s share buybacks, which hit a record of more than $1 trillion in 2018 on the back of a tax overhaul, have begun to slow down in recent months, according to Jefferies.
  • “Total S&P 500 buyback amounts seem to have peaked while the share of R&D spending has remained constant since the Great Financial Crisis,” said Sean Darby, global head of equity strategy at Jefferies.
  • The bank highlighted stocks with a high possibility of maintaining their buyback momentum in the fourth quarter, which includes Macy’s, H&R Block, Halliburton and Booking Holdings.

BofA Calls It: The Top Is In For The Market

“Moreover, recent liquidity crashes worry us as they could manifest themselves in the S&P.”

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