STOCKS | Kobeissi Letter Says U.S. Stock Market Cap-to-GDP Ratio Hits Record 238%

The Kobeissi Letter said the ratio of U.S. stock market capitalization to GDP has risen to a record high of 238%, with total market value at $75.7 trillion compared with an economy of about $31.8 trillion. According to Odaily, the ratio has increased by 38 percentage points since the S&P 500 bottomed on March 30. The Kobeissi Letter said the current level is about 90 percentage points higher than the roughly 148% peak during the 2000 dot-com bubble. It also said that since the 2008 financial crisis, U.S. stock market growth has been five times the growth of the underlying economy.