On November 27, KobeissiLetter released data showing that U.S. margin debt surged by $57.2 billion in October, reaching a record $1.2 trillion, marking the sixth consecutive month of increase. So far this year, U.S. margin debt has risen by $285 billion, a 32% increase. In the past six months, margin debt has skyrocketed by 39%, the largest increase since 2000, even exceeding the rise during the 2021 meme stock craze. The leverage in the U.S. investment market has become exorbitant. Margin debt refers to the total amount of money borrowed by investors from brokers to buy stocks or other securities in securities trading, allowing investors to amplify their investment scale with less personal capital, thereby increasing potential profits but also amplifying risks.