Here’s What The Stock Market’s Slow-Motion LBO Looks Like

When it comes to stock buybacks – an increasingly politically charged topic – 2018 has already been a historic year: as we first reported three months ago, as a result of Trump tax reform which made offshore cash repatriation far more economical, corporations would use much of this redomiciled cash to buyback $650 billion of their own stock in 2018, an all time high (for an extended analysis of the market and political implications of record cash flows