Corporate Clients’ 4-Week Average Buybacks vs. S&P 500 Total Quarterly Buybacks At the present time, stock buybacks by corporate clients year-to-date are still above the highs of 2022. Image: BofA Global Research
Corporate Clients – Buybacks (4-Week Average) Stock buybacks by corporate clients decelerated last week, but are still strong. Image: BofA Global Research
Spread Between BBB-Rated Corporate Bond Yield and 90-Day U.S. Treasury Bill Yield As Warren Buffett once said, “be fearful when others are greedy and greedy when others are fearful.” Image: BofA Global Investment Strategy
Ownership Breakdown of the U.S. Equity Market (Share of Corporate Equity Market) Demand for U.S. equities is driven by U.S. households, foreign investors, passive mutual funds and ETFs. Image: Goldman Sachs Global Investment Research
ISM Composite Index vs. Corporate Profits The decline in the ISM Composite Index indicates a weakening of the U.S. economy, which could lead to lower corporate profits. Image: Merrill Lynch Wealth Management
FMS Investors – Net % Say Corporate Earnings Will Improve vs. S&P 500 Consensus Forward EPS Will analysts continue to lower S&P 500 earnings estimates? Image: BofA Global Fund Manager Survey
Corporate Profits After Tax vs. S&P 500 The gap between the S&P 500 and corporate profits after tax remains wide. Has the S&P 500 more room to fall? Image: Real Investment Advice
U.S. Corporate Sector Profits vs. CEO Confidence Weak CEO confidence suggests that U.S. corporate profits are at risk. Image: Longview Economics
U.S. Corporate Debt to Equity U.S. corporate debt to equity is just 25%. Image: BofA Global Research
Earnings – Corporate Sentiment vs. Quarterly EPS YoY (Leading Indicator) Corporate sentiment tends to lead earnings growth by 3 months, suggesting earnings downside risk. Image: BofA Global Research