Borrowing in brokerage margin accounts continues to increase along with the gains in the stock market. Margin debit balances grew $84 billion, or 10.7%, this year through May. The S&P 500 appreciated 11.9% through the same month.
Since March 2020, margin debit balances increased 79.8% while the S&P 500 gained 62.7% from the end of that month. Swelling money supply, low interest rates, Fed bond purchases, recovering economy, and borrowing at brokerages; no wonder the markets continue to move higher.