Watch Out for Market Complacency as Risks Mount

Asia’s equity rally has been largely bulletproof this year with the regional benchmark up about 10 percent in less than four months.

What might be more concerning is how calm the market has been -- volatility on the MSCI Asia Pacific Index is now at a level last seen in October, just before the massive risk asset sell-off that sent stocks plunging 14 percent in less than three months.