Update
US Margin Debt Surges to Record High
US margin debt increased by $26 billion in September to reach $1.48 trillion, the second-highest level on record. Since the beginning of 2026, margin debt has risen by $255 billion, or 21%. The margin debt-to-M2 monetary supply ratio has climbed to 6.3%, the third-highest level on record, surpassing the 2021 peak of 3.6%. This represents the highest margin debt as a percentage of GDP at 4.5%, surpassing the 2000 dot-com bubble peak of 3.6%.