BREAKING: Global stock market cap is up to a record $166 trillion. This marks a +$32 trillion YoY increase, or +23.6%, far above the long-term average. Global markets have surged +$94 trillion, or +131%, since the 2020 pandemic low. By comparison, the global equity market value has grown at a +7.0% compound annual growth rate (CAGR) over the last 20 years. Meanwhile, as a % of global GDP, the global equity market cap is up to a record ~134%. Global equities are in the midst of one of the most powerful rallies in history.(The Kobeissi Letter)