Buyback Bonanza Seen From U.S. Cut in Overseas-Profit Tax
President-elect Donald Trump’s proposal for a 10 percent tax rate on U.S. companies’ offshore earnings led to anticipation that share repurchases will accelerate. “The market seems to agree,” Tobias Levkovich, Citigroup Inc.’s chief U.S. equity strategist, wrote Tuesday in a report. He cited the Nasdaq U.S. Buyback Achievers Index, which beat the S&P 500 Index after Trump’s victory last week by as much as 3.7 percent.