[Approximately 60% of Global Stock Markets Reach All-Time Highs, Risk Asset Bull Market Accelerates] On October 30, data from Kobeissi Letter showed that approximately 60% of global stock markets reached all-time highs over the past 21 days, marking the highest level in two years. Major markets such as the United States, Canada, Japan, the United Kingdom, and Germany all set new records. The S&P 500 Index has hit all-time highs 37 times this year, ranking third since 2017, trailing only the 57 times in 2024 and the 70 times in 2021. The global risk asset bull market is at its peak.