The Only Stock Buyers In The First Half Were Buybacks: BofA

While it is well known that stock buybacks have been among the primary contributors for the solid stock performance in the US in 2018, largely thanks to Trump’s tax reform which allowed companies to use repatriated cash to repurchase stock, the following “chart of the week” from Bank of America one week ago shows just how pervasive the buyback wave had been so far in 2018, as the bank’s clients deployed record amounts of cash