According to @KobeissiLetter, the number of countries in the MSCI All Country World Index making 52-week new highs has reached 47, the highest on record, meaning 67 percent of countries in the index are at record levels and surpassing the previous all-time high, source: The Kobeissi Letter. For trading relevance, elevated global equity breadth is a widely watched risk momentum gauge that can coincide with broader risk appetite; crypto and equity price co-movements have risen notably in recent years, increasing the potential for spillovers to digital assets, source: IMF staff research by Adrian, Iyer, and Qureshi (2022).

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, emerging market stocks have logged 10 consecutive monthly gains, the longest streak in 21 years, surpassing the 8-month run in 2017, and they have not recorded a single negative month this year, the first occurrence since 1993; source: @KobeissiLetter. During this period, the MSCI Emerging Markets Index is up 30.3% year-to-date, its strongest YTD performance since 2017; source: @KobeissiLetter. EM equities are on track for a third consecutive annual gain, the best such streak since 2017; source: @KobeissiLetter. The source describes this as an expanding global bull market, a risk-on backdrop that traders may monitor alongside crypto markets for cross-asset sentiment; source: @KobeissiLetter.