BREAKING: US margin debt surged +53 billion in January, to a record $1.28 trillion. This marks the 9th consecutive monthly increase. YoY, margin debt jumped +$342 billion, or +36%, the biggest increase since the 2021 meme stock frenzy. Furthermore, margin debt as a % of real disposable personal income exceeded 6.0% for the first time on record. The percentage is now nearly 3 TIMES higher than the 2000 Dot-Com Bubble peak. Market-cap adjusted margin debt has also hit an all-time high. Investors are using more leverage than ever.(The Kobeissi Letter)