Stock Market Indicators: Margin Debt - Yardeni Research

1 Stock Market Indicators: Margin DebtYardeni Research , 22, 2022Dr. Edward visit our sites outside the boxTable Of ContentsTable Of ContentsTable Of ContentsJuly 22, 2022 / Stock Market Indicators: Margin Debt Research , Debt3-6798183858789919395979901030507091 1131517192123250102030405006012018024030 0360420480540600660720780840900960 JunMARGIN DEBT & WILSHIRE 50007/21 Margin Debt*(billion dollars) ( )Wilshire 5000 Market Cap(trillions) ( ) * Debit balances in Margin accounts at broker/dealers. Beginning in 1997 data are debit balances in customers securities Margin : Shaded red areas are S&P 500 bear Market declines of 20% or more.

2 Yellow areas show bull : New York Stock Exchange through December 1996, FINRA thereafter, and Haver 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 DEBT*(as a percent of Wilshire 5000) * Debit balances in Margin accounts at : New York Stock Exchange through December 1996, FINRA thereafter, and Haver DebtPage 3 / July 22, 2022 / Stock Market Indicators: Margin Debt Research , 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25-300-250-200-150-100-50050100150200250 300350400-300-250-200-150-100-5005010015 0200250300350400 Margin DEBT*(yearly change, billion dollars) * Debit balances in Margin accounts at : Shaded red areas are S&P 500 bear Market declines of 20% or more.

3 Yellow areas show bull : New York Stock Exchange through December 1996, FINRA thereafter, and Haver 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25-50050100-50050100 Margin DEBT*(yearly percent change) * Debit balances in Margin accounts at : Shaded red areas are S&P 500 bear Market declines of 20% or more. Yellow areas show bull : New York Stock Exchange through December 1996, FINRA thereafter, and Haver DebtPage 4 / July 22, 2022 / Stock Market Indicators: Margin Debt Research , 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 250102030405002004006008001000 Margin DEBT & S&P 500 Jun7/20 Margin Debt*(billion dollars) ( )S&P 500 Market Cap ( ) * Debit balances in Margin accounts at.

4 New York Stock Exchange through December 1996, FINRA thereafter, and Standard & Poor 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 2512341234 Margin DEBT(as a percent of S&P 500 Market cap) * Debit balances in Margin accounts at : New York Stock Exchange through December 1996, FINRA thereafter, and Standard & Poor DebtPage 5 / July 22, 2022 / Stock Market Indicators: Margin Debt Research , 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 2501000200030005010015020025030035040045 0500550600650700750800850900950 JunMARGIN DEBT & RUSSELL 30007/21 Margin Debt*(billion dollars)Russell 3000 Index * Debit balances in Margin accounts at broker/dealers.

5 Beginning in 1997 data are debit Balances in customers securities Margin : New York Stock Exchange through December 1996, FINRA thereafter, and Wall Street 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 2550100150200250300350400450500550600650 7007508008509009501000105011005010015020 0250300350400450500550600650700750800850 900950100010501100 Margin DEBT & S&P 1500 Jun7/21S&P 1500 Composite IndexMargin Debt*(billion dollars) * Debit balances in Margin accounts at : New York Stock Exchange through December 1996, FINRA thereafter, and Haver DebtPage 6 / July 22, 2022 / Stock Market Indicators: Margin Debt Research , (c) Yardeni Research , Inc.

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