Market volatility will increase as a result of a decline in share buybacks and lower earnings growth per share, warns Goldman Sachs.
David Kostin, who leads the business bank's portfolio strategy team, writes in a note to the bank's clients that the 51 listed companies in the S&P that have suspended their share buyback programmes account for no less than 27% of total S&P 500 share buybacks in 2019.
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