Buybacks baby

US companies have announced +$567 billion of buybacks YTD, a record at this point in the year. GS Research forecasts +$726 billion of gross buyback executions for S&P 500 firms this year and expect buybacks will accelerate during the coming months as earnings grow and operations normalize. GS Research maintains their full year forecast of +$300 billion of net equity demand by corporations through year-end, representing the largest source of net US equity demand for the remainder of 2021.