Buybacks are back: US companies have announced over 1 trillion in buybacks YTD, the fastest pace to reach that threshold on record. In July, announced share repurchases totaled 166 billion, the highest on record for that month. In May and April, Apple, AAPL, and Alphabet, GOOGL, announced 100 billion and 70 billion in share repurchases, respectively. Additionally, JPMorgan, JPM, Goldman Sachs, GS, Wells Fargo, WFC, and Bank of America, BAC, each announced buybacks of at least 40 billion. On Wednesday, Nvidia, NVDA, announced another 60 billion buyback. Corporations can't get enough of their own stocks.(The Kobeissi Letter)