More than $100 billion in buyback authorizations were approved last month, according to Birinyi Associates, as corporate America continues to purchase its own shares at a record clip. Based on that data, the total amount of buyback authorizations will reach $1 trillion, far surpassing the previous record set in 2007.
In fact, March was the third-strongest month ever for buyback plans, pushing the year-to-date figure to $257 billion or the highest dollar amount to a start of a year on record, according to Birinyi.
As the market remains stuck in place over the last month on concerns about a Federal Reserve interest rate hike and poor earnings, there's a trillion dollars on the way this year to wash away all ills.
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