According to @KobeissiLetter, the MSCI All Country World Index (ACWI) is up roughly 20% year-to-date, putting this year on track for its strongest annual performance since 2019, source: @KobeissiLetter. This advance is nearly double the 10-year average return of about 11% and would mark a third consecutive annual gain in the index, signaling a broad risk-on backdrop across global equities, source: @KobeissiLetter. For crypto traders, risk-on equity regimes have historically coincided with stronger co-movement between Bitcoin and stocks, with the IMF documenting a sharp rise in BTC–S&P 500 correlation during 2020–2021, source: IMF blog by Tobias Adrian, Tara Iyer, and Mahvash S. Qureshi Narain, 2022. This cross-asset linkage suggests monitoring ACWI momentum and equity volatility as inputs for BTC and ETH positioning and risk management when equity strength accelerates, source: IMF blog by Tobias Adrian, Tara Iyer, and Mahvash S. Qureshi Narain, 2022.

According to @KobeissiLetter, the MSCI All Country World Index has gone 159 trading days without a 5% drawdown, the longest stretch since 2016–2018, and the index spans 23 Developed and 24 Emerging Markets covering roughly 85% of global equities, source: @KobeissiLetter, Dec 1, 2025. For traders, extended global equity resilience aligns with broader risk-on conditions, and crypto’s co-movement with equities has strengthened since the pandemic, source: International Monetary Fund (Crypto Prices Move More in Sync With Stocks), Jan 2022. Given the ACWI backdrop, monitoring BTC and ETH alongside equity risk gauges can help anticipate correlation-driven flows and potential volatility spillovers if a pullback emerges, source: International Monetary Fund (Crypto Prices Move More in Sync With Stocks), Jan 2022; @KobeissiLetter, Dec 1, 2025.

According to @KobeissiLetter, Nvidia (NVDA) now accounts for 5.04% of the MSCI All Country World Index, exceeding Japan’s 4.78% share and outweighing France and Germany combined, while China, the UK, and Canada stand at 3.33%, 3.23%, and 2.92% respectively. Source: @KobeissiLetter. With MSCI ACWI capturing roughly 85% of global equities, NVDA’s outsized weight makes it a key driver of benchmark performance and a focal point for index-tracking flows during rebalances. Source: @KobeissiLetter; MSCI ACWI Index methodology. For trading, monitor NVDA into MSCI review and month/quarter-end dates as passive and benchmark-aware mandates align to index weight, potentially impacting liquidity and volatility. Source: MSCI ACWI Index methodology. Crypto traders should also watch AI-led equity risk sentiment given documented periods of positive BTC–equity correlation and narrative spillovers to AI-linked tokens. Source: Kaiko Research; Bloomberg Markets.

According to The Kobeissi Letter, the MSCI All Country World Index (ACWI) has recorded more new highs than new lows for 73 consecutive days, the longest streak since May 2021, source: The Kobeissi Letter. ACWI spans 23 developed markets and 24 emerging markets and covers roughly 85% of investable global equity, highlighting the broad-based nature of the advance, source: The Kobeissi Letter. The longest comparable stretch in the last decade was about 150 days in 2020, offering a historical benchmark for trend durability, source: The Kobeissi Letter. Year to date, ACWI is up 17.1%, well above the 10-year average of 11.1%, underscoring that global stocks are running hot, source: The Kobeissi Letter. Crypto traders can monitor BTC and ETH for reactions to this risk-on equity backdrop even though the source did not reference crypto assets, source: The Kobeissi Letter.