Asian stock markets dropped broadly on Monday, with Tokyo and Hong Kong down for the third-straight session. China's official news agency reported that the stock market regulator planned to control the fundraising pace of listed companies and to clamp down on market rumors. See Asian stock markets decline and Asia's IPO market cools.
China's Shanghai Composite is now down more than 55% from its peak in 2007. And so far, still dropping….
This is what risk looks like. I suspect North America has some catching up to do in the months ahead.
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BREAKING: US margin debt jumped by +$112 billion in May, to a record $1.42 trillion.
This marks the 2nd consecutive monthly increase, totaling +$195 billion.
Margin debt has surged +$495 billion, or +54%, over the last 12 months.
Adjusted for inflation, this metric rose +7.9%
