Stock markets everywhere are getting smaller. This is probably a good thing.
Look beyond the wallowing and schadenfreude that surrounds London’s dawning irrelevance and there’s much broader, quieter trend of de-equitisation afoot. Europe’s net buyback yield — that is, share buybacks net of issuance — has just turned positive for the first time in history, according to Bank of America research. The Stoxx 600 Europe has moved into line with the S&P 500, where repurchases have been outstripping issuance for a couple of years.
您已閱讀15%（527字），剩餘85%（3088字）包含更多重要資訊，訂閱以繼續探索完整內容，並享受更多專屬服務。