Stock market margin debt rose to its highest level in 10 months as leveraged trading continues to make a significant comeback in 2023. The June 2023 margin debt figure from FINRA came in at $681.23 billion, up approx. 12.5% since the end of 2022 ($606.66 billion).
Margin debt is likely increasing because market participants feel good about the outlook for lower rates in the future. Market participants have also enjoyed declining inflation this year which has allowed them to put more money into the market.