This is truly remarkable: US leveraged ETF assets are up +30 billion, or 40%, over the past month, to ~105 billion. This is a sharp recovery from the -50 billion decline seen from January to the second week of April. By comparison, during the 2022 bear market, leveraged ETFs' market cap dropped -30 billion, and it took 7 months to recoup all the losses. Meanwhile, the 3x leveraged long Nasdaq 100 ETF, TQQQ, is up nearly 80% since its April 8th low. Risk appetite is through the roof.