We Just Saw The Biggest Weekly Stock Buyback Spree In History

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by Tyler Durden
Saturday, Nov 18, 2023 - 11:05 PM

In retrospect, the faceripping 10% S&P rally of the past three weeks could have been even bigger.

Recall that back on November 2, when the S&P was trading in the mid-4200s, just above a five-month low hit days earlier, we cautioned bears that the selling avalanche was about to end as a result of two key technical reasons: i) a flurry of stock buybacks - some $5BN per day - had just been unleashed now that the Q3 blackout period had ended, and ii) CTAs who were about go "apeshit" buying stocks purely on vol signals.