According to Matt Philip’s piece in the Times (https://www.nytimes.com/2019/10/24/business/ceo-confidence-buyback-drop.html), the last time CEO’s confidence was this low was during the 2009 recession when the country was still shedding 800,000 jobs a month. CFO’s share that gloom, with optimism “far less” than just two years ago.
Unemployment rates at a boastful 50-year low isn’t isn’t enough to stem the tide of recession worries, which many expect by next year. As a result, fewer stock buybacks and other corporate spending rollbacks could impact the market negatively.
A piece worth reading, catch Matt’s full article here.
