The Kobeissi Letter said on July 26 that the total value of global equity markets has climbed to 137% of global GDP, putting the ratio close to its historical peak. The measure has risen by 40 percentage points since April 2025, reaching a level comparable to the peak seen during the 2021 meme stock frenzy. For comparison, the ratio topped out at about 120% before the 2008 financial crisis.
The note also said total global stock market capitalization reached a record $166 trillion this month. Of that amount, the U.S. stock market accounted for about $77 trillion, or roughly 46% of the global total. According to The Kobeissi Letter, AI is driving a historic expansion in equity markets.
BlockBeats reported on July 26 that The Kobeissi Letter said total global stock market capitalization has climbed to 137% of world GDP, putting the ratio near its historical high.
Since April 2025, that ratio has risen by 40 percentage points, matching the peak level seen during the 2021 meme stock frenzy. By comparison, the ratio peaked at about 120% before the 2008 financial crisis.
This month, total global stock market capitalization reached a record $166 trillion. The U.S. stock market accounted for about $77 trillion, or roughly 46% of the global total. The Kobeissi Letter said AI is driving historic growth in stock markets.
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