NYSE Margin Debt Watch - A Tad Bit Higher In May

After margin debt dropped for two consecutive months in March and April, margin debt increased slightly by about $1.4 billion in May. However, the two month difference in marge debt remains negative about about $11.8 billion. With this slight increase in May, we are currently in a holding pattern to see if gross margin debt truly did peak in February. Net margin debt has held relatively steady since December 2013 which given its elevated level is a rare event over the past 11 1/2 years.