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Some Wall Street strategists say there are logical reasons for the disconnect.
Returns from stock buybacks seem to be falling, so fewer companies are performing cash buybacks this year.
Proportion of CFOs who say they're growing more optimistic fell by about half from Q3/2018 to Q4/2018.
“CFO optimism, while still strong, appears to be on the retreat amid concerns around global trade and interest rates.”
Deloitte survey finds U.S. CFOs are reacting to Trump tax cuts by planning higher domestic wages, capital investments, and R&D.
Bloomberg's dollar gauge slips most since January.
“That the S&P is down this much even as yields are falling tells me that there is probably still a lot of fear about how sustainable the bounce is.”