Shareholder Return vs. Free Cash Flow

Shareholder Return vs. Free Cash Flow Thanks to low interest rates, shareholder return has exceeded free cash flow levels again. U.S. companies cannot spend more than they earn indefinitely. Image: Goldman Sachs Global Investment Research

Dividends and Buybacks vs. Free Cash Flow

Dividends and Buybacks vs. Free Cash Flow Dividends and buybacks have exceeded free cash flow levels again, thanks to low interest rates. But companies cannot spend more than they earn forever. Image: Capital Group

GWIM Flows to Cash 4WMA

GWIM Flows to Cash 4WMA BofA private clients have raised record amounts of cash amid uncertainty in the global economy. Image: BofA Global Investment Strategy

GWIM Flows to Cash

GWIM Flows to Cash In the current market turmoil, BofA private clients have raised record amounts of cash over the past four weeks. Image: BofA Global Investment Strategy

U.S. Equity Fund Flows vs. Bonds and Cash

U.S. Equity Fund Flows vs. Bonds and Cash This chart puts into perspective the rotation from equities to bonds and cash, as investors become cautious about further growth. Image: Goldman Sachs Global Investment Research

Fund Flows – Equity, Bonds and Money Market Funds

Fund Flows – Equity, Bonds and Money Market Funds Investors frightened by the coronavirus pandemic, put a record amount of cash into money market funds. Image: Goldman Sachs Global Investment Research

Record Money Market Fund Inflows

Record Money Market Fund Inflows Money market funds get record inflow, as investors flood into the safety of cash. Image: BofA Global Investment Strategy

U.S. Fund Flows Cumulative Since 2018

U.S. Fund Flows Cumulative Since 2018 Fear of a recession has led to a record equity outflows and bond & cash inflows in recent years. Image: Goldman Sachs Global Investment Research

U.S. Fund Flows

U.S. Fund Flows Chart showing the large divergence between flows into equity funds and those into cash and bonds. Image: Goldman Sachs Global Investment Research