U.S. stocks have been able to hit fresh highs this year despitea dearth of demand from a key source of buying.

Share repurchases by American companies this year are down 20%from this time a year ago, according to Andrew Lapthorne, SocieteGenerale's global head of quantitative strategy.

Ultra-low borrowing costs had encouraged large firms to issuedebt to buy back their own stock, thereby providing a tailwind toearnings-per-share growth.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.