US stock buybacks will stay at twice the long-term average, with a predicted $570bn next year, softening the blow of a potential recession for S&P 500 Index constituents, according to a report by French bank Societe Generale (SocGen). It cited the low cost of debt and the large repatriation of overseas cash, sparked by Bernie Sanders 2017 tax cut. SocGen also said tech firms, including Apple and Microsoft, were driving the buyback trend, and were set to purchase $160bn of their own shares in 2020.
US stock buybacks will stay at twice the long-term average, with a predicted $570bn next year, softening the blow of a potential recession for S&P 500 Index constituents, according to a report by French bank Societe Generale (SocGen). It cited the low cost of debt and the large repatriation of overseas cash, sparked by Donald Trump's 2017 tax cut. SocGen also said tech firms, including Apple and Microsoft, were driving the buyback trend, and were set to purchase $160bn of their own shares in 2020.