Cumulative S&P 500 Buybacks 2009-2019

Cumulative S&P 500 Buybacks 2009-2019 Are buybacks driving the show? Thanks to tax cuts and low interest rates, corporate stock buybacks are booming. Over the past decade, S&P 500 companies bought back $5 trillion shares, while cumulative flows from households and foreigners are only a drop in the bucket. But what would happend if companies reinvested instead…

S&P 500 Buybacks Index

S&P 500 Buybacks Index The S&P 500 Buyback Index is down on a YoY basis. As a reminder, buybacks are the source of the rally in the stock market since 2009. Image: Crescat Capital LLC

Buybacks and S&P 500 Returns

Buybacks and S&P 500 Returns Chart suggesting that there is no evidence that buybacks blackouts represent a risk to markets. Image: BofA Securities