Corporates are coming to the rescue in European equities this fall.
European Equity volumes have seen the largest Sep/Oct dropoff since at least 2012 as market participants’ appetite for EU Equities drops.
But at the same time, corporates have rarely been as active buying their own stock: Sep was the 2nd largest month ever for EU buybacks ($28bn vs. a YTD average of $22bn, 2Y average of $18bn per month). M&A activity in European underliers is also the highest since at least 2015 – the market is on track for deals proposed/completed in 2026 to reach ~$300bn.