JPM: Buybacks Are Supporting The Market

JPM: Buybacks Are Supporting The Market “US corporate have raised their net equity buying since the first quarter of 2015 and this backstop was particularly important in the first quarter of this year, against the backdrop of heavy selling by SWF and retail investors.” — JP Morgan Flows & Liquidity research Equity withdrawal activity by the US non-financial sector surpassed $170 billion in the first quarter of 2016, reaching the highest level since the third quarter of 2007. However, despite these equity outflows the market has continued to grind higher, thanks in part to the record level of buyback activity by…