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Corporations in the US are awash with cash. The bonanza days of highly leveraged takeovers are long over and after a period of thriftiness and deleveraging, the level of cash on US balance sheets is at an all-time high. There are several ways this cash can be used to benefit shareholders and we expect an acceleration in share buybacks and dividend pay outs as well as increased investments in MA and capex.
A frustrating hallmark of the post-financial-crisis world has been the overall heightened level of uncertainty faced by investors over economic growth, sovereign debt, regulatory changes, monetary policy and geopolitics. But there is one area where investors have been able to find support: the strength and stability of the corporate sector. Since the...
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