Buybacks will remain the key source of equity inflow in 2016

We already know that in a world of declining cash flows, the primary source of funds to facilitated this behavior was debt issuance.

 In fact, as SocGen showed in a stunning chart last year, the only reason for the increase of net debt in the 21st century has been to fund buybacks.

 Zerohedge 15 April 2016

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