Economic Policy Uncertainty During U.S. Presidential Election Years Chart suggesting that historically, economic policy uncertainty is higher in U.S. presidential election years, particularly uncertainty related to tax policy. Image: Deutsche Bank
S&P 500 Capital Allocation – Dividends, Buybacks and Capital Expenditures 2018 corporate tax cut boosted dividends and buybacks, but not capital expenditures. Image: Oxford Economics
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…
Stock Buybacks Since 2000 Thanks to tax cuts and low interest rates, the stock market should get around $1 trillion boost via buybacks this year. Image: Goldman Sachs Global Investment Research
S&P 500 – Buybacks, Dividends and Capital Expenditures 2018 corporate tax cut boosted dividends and buybacks, but not capex. Image: Deutsche Bank Global Research
Does U.S. Productivity Increase Under President Trump? The answer is yes, because businesses have invested. Even if Net Domestic Investment to GDP is in a long-term downtrend, that’s good news for the U.S. economy. Keep in mind that it is a key factor in extending the business cycle. US Productivity has increased, because US companies have invested,…
S&P 500 Annual Buybacks Since 2007 Thanks to tax cuts and low interest rates, U.S. corporate stock buybacks are booming since 2010. According to Goldman Sachs, the stock market should get around $1 trillion boost via buybacks this year. Image: Goldman Sachs Global Investment Research
Negative-Yielding Debt by Country The chart shows negative-yielding debt by country as of June 2019. Bondholders will get back less than what they paid if they hold bonds to maturity. So, in a sense, negative yield bonds are a tax on bondholders. Picture Source: Bloomberg
Negative Yielding Bonds in the Barclays/Bloomberg Global Aggregate Index These charts put things into perspective. Keep in mind that bondholders will get back less than what they paid if they hold bonds to maturity. Negative yield bonds are also a tax on bondholders. Image: Bianco Research
Average Consumer Price Increase After US Import Tariffs by 25% This chart shows the average consumer price increase in percentage points for US consumers/firms after an increase in US import tariffs by 25 percentage points. Trade war costs to consumers and companies. Tariffs are a hidden tax on American consumers and US firms. Image: Ifo…