Markets & Crypto
The Kobeissi Letter
Public Telegram feed monitored for macro-market headlines and commentary.
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Americans have rarely been this bullish on equities:
In December, 55% of US consumers expected higher stock prices over the next 12 months, the 3rd highest monthly reading since this question was first asked in 1987.
Since April 2025, bullish sentiment has surged +17 percentage points and is just shy of its all-time high set in December 2024.
By comparison, this metric peaked at ~47% during the 2000 Dot-Com Bubble and at ~51% in 2018.
This is also well above the 49-year average of 36%.
Meanwhile, only 25% of consumers expect lower stock prices over the next year, near the lowest since 2020.
This metric stands below its long-term average of 28% and the March 2025 high of 47%.
Bullish sentiment is incredibly strong.
(@TheKobeissiLetter)