From Dave Wilson:
Proposals to limit or bar U.S. stock repurchases may amount to kicking businesses when they’re down. Comparing the Nasdaq Buyback Achievers Index, whose companies repurchased at least 5 percent of their shares in the past 12 months, with the S&P 500 Index shows as much. The ratio between the indicators has dropped as much as 14 percent from a record set in April 2015, according to data compiled by Bloomberg. Along the way, an Invesco exchange-traded fund that tracks the buyback index has risen at a 6 percent annual rate, four percentage points behind the SPDR S&P 500 ETF’s pace.
Source: Bloomberg Radio’s Dave Wilson