BREAKING: US margin debt jumped +$30 billion in November, to a record $1.21 trillion. This marks the 7th consecutive monthly increase. During this time, margin debt has surged +$364 billion, or +43%. Adjusted for inflation, margin debt rose +2% MoM and +32% YoY, to the highest level on record. Meanwhile, margin debt as % of the M2 money supply jumped to ~5.5%, the highest since 2007. Outside 2007, the only other time when margin debt to M2 was higher was during the 2000 Dot-Com Bubble. Market leverage is skyrocketing.(The Kobeissi Letter)