Le società hanno ricomprato azioni per 3,2 triliardi di dollari ma urge tagliar loro le tasse....rob de mat!
Why does the stock market keep rallying despite worries about North Korea, U.S. policy uncertainty, Federal Reserve tightening and concerns over runaway valuations?
Simple. It is because public pension funds keep flooding the credit markets with cash at a record pace, and companies keep using that money to buy back their stock, says Brian Reynolds, asset class strategist at Canaccord Genuity.
Reynolds said he believes the credit boom could continue for at least three years, and maybe even five. That would make the current bull market the longest in history by a wide margin. A bull market is defined by many as a rise of 20% or more off a bear-market low, without a 20% decline.
Since the S&P 500 index (^GSPC) hit its bear-market bottom in March 2009, it has soared nearly fourfold, even though “main investors” have sold a total of $9.89 billion worth of stock, Reynolds said, using Bloomberg data. That’s because the cumulative total of corporate stock repurchases has been about $3.2 trillion