[Analysis: The Road to Rising Risk Assets Will Be More Turbulent] Odaily Planet Daily reports that the trading information platform Kobeissi Letter posted on X, stating that over the past two years, the leverage ratio of U.S. investors has nearly doubled, similar to the growth rate following the 2020 pandemic. In September, U.S. investors took on $67 billion in margin debt, bringing the total to a record-breaking $1.13 trillion. A 5x leveraged ETF for U.S. stocks has just been submitted to the U.S. Securities and Exchange Commission, covering everything from Nvidia to cryptocurrencies. This means that if Nvidia drops 10% in a single day, the leveraged ETF will fall by 50%, making the road to rising risk assets even more turbulent. Risk appetite is at an all-time high, with everyone wanting to participate in the AI revolution. The stock allocation ratio of U.S. households has reached a record-breaking 52%, surpassing the previous peak of 48% in 2000 by 4 percentage points. This ratio is also double the lowest point in 2008. Americans are pouring into the stock market.