One reason for the recent poor market performance is that corporate buybacks are precluded during the month before earnings are released. Any destabilizing macro news that occurs during the blackout window amplifies volatility because the largest source of demand for shares is absent. Share buybacks in the US are on pace for their biggest year since 2007, he adds, estimating $561bn for full-year 2015 (net of share issuance) and a decline to $400bn in full-year 2016. Aside from shares repurchases already scheduled under 10b5-1 plans, the markets will have to wait until February for the buyback taps to start flowing again properly.
Share buybacks, the markets miss you | FT Alphaville
One might need a reminder of this..