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The Market Ear on scary seasonality.
The upcoming buyback fade
In markets it is always about the “change”…and this bid is going to fade soon. There is $6.62B worth of daily purchasing power until the closed window (where it normally gets cut in half or even more). Blackout starts on the 13th, which is only 10 trading days away – and the market usually pre-trades this.
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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.