As a few of you might have been told already a few times, today is the latest Brexit D-Day for the U.K. and Prime Minister Theresa May in particular.
Moving aside from Brexit for a couple of hundred words, I just want to point out there are one or two other incy-wincy issues that may also screw things up, especially for financial markets, in addition to whether Britain slips its moorings and drifts away from Europe to somewhere lost in the mid-Atlantic.
Firstly, was the estimate from Howard Silverblatt of S&P Dow Jones Indices that U.S. S&P 500 companies bought back circa $800 billion in stock last year, a new high for any calendar year. Except in many cases, and this is where the second report comes in, it's not exactly"cash" but moreover debt that is paying for the buybacks.
chase WellsFargo Navient BankofAmerica Looking in your direction... business
ok, B.O.B. that’s the first Brexit joke I’ve heard