Monday Macro: it's all going swimmingly…what could possibly go wrong

We peer into a murky crystal ball and run through the known unknowns as regards market risk. Plus, markets in November – rampant bulls on the loose.

November in the rearview mirror

I’ve only been away for a little over a week, but surveying data for November, it's clear that we are in the throes of a proper equity market meltup. Where a target of 6000 for the S&P 500 once seemed unlikely for the US markets - now representing just under 75% of total global equities in value – analysts, notably those a…