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The growing earnings downdraft is messing with machines bidding on machines. The Market Ear has more on the latter.
Some (new) marginally bearish bullets
Goldman attacking the pillar this bull stood on
“We cut our buyback growth forecast to +5% in 2022 ($965 billion) and -10% in 2023 ($869 billion). We expect buybacks will decline by 10% year/year. Following the collapse in cash M&A YTD, we expect a slight rebound in 2023 (+3%)”
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Goldman
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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