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Margin contraction

Jason Goepfert
2020-04-27

Margin debt, funds borrowed against the value of stock holdings, fell by more than 10% in March, while free credits (cash) rose by more than 10%. That's only happened three other times: September 1946, September 1955, and October 1987. Stocks rose from 3 to 12 months later after all three instances.

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