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While US investment bank Morgan Stanley is confident stocks will continue to climb, it has identified four key threats for the bull run?

ASX. Afr. Generic. 110615. Pic by Michel O'Sullivan.
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While US investment bank Morgan Stanley is confident...
Scenes in Westpac bank's foreign exchange division in Martin Place on 12 December 1983, the day the Australian Dollar was floated.
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Scenes in Westpac bank's foreign exchange division...
Scenes in the National Australia Bank's dealing room on 12 December 1983, the day the Australian Dollar was floated.
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Scenes in the National Australia Bank's dealing room...
Scenes in Westpac bank's foreign exchange division in Martin Place on 12 December 1983, the day the Australian Dollar was floated.
FXT308018
Scenes in Westpac bank's foreign exchange division...
Scenes in the National Australia Bank's dealing room on 12 December 1983, the day the Australian Dollar was floated.
FXT308012
Scenes in the National Australia Bank's dealing room...
Scenes in Westpac bank's foreign exchange division in Martin Place on 12 December 1983, the day the Australian Dollar was floated.
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Scenes in Westpac bank's foreign exchange division...
Floating the Australian dollar changed life on a dealing desk.

Scenes in the National Australia Bank's dealing room on 12 December 1983, the day the Australian Dollar was floated.
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Floating the Australian dollar changed life on a dealing...
IG market strategist Stan Shamu says sentiment has shifted to the short side.
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IG market strategist Stan Shamu says sentiment has...
NO CAPTION

STOCK EXCHANGE.  AFR FIRST USE.  030530.  PIC: ANDREW QUILTY.
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NO CAPTION

STOCK EXCHANGE. AFR FIRST USE. 030530....
The Sydney trading room at UBS yesterday: barely a ripple after the expected news.

Trading Room. Image from the trading room at UBS. 5 February 2008. AFR Photo by Andrew Quilty.
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The Sydney trading room at UBS yesterday: barely a...
Contracts-for-difference allow investors to bet on rises and falls without actually owning the shares.

ASX. The Australian Stock Exchange on a day that saw the majority of stocks rising in value
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Contracts-for-difference allow investors to bet on...
Online brokers continue to gain market share in Australian trading.

Generic  Commsec, trading, stocks, shares, sharemarket, public company.   Commsec. The Commsec trading floor. 

20 November 2006
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Online brokers continue to gain market share in Australian...
Adjusted: Much of the bad news has  already been factored into the market

ASX. Inside the foyer of The Australian Stock Exchange and a day when the all ordinaries took a plunge.
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Adjusted: Much of the bad news has already been factored...
Trading frequency and average trade size have gone up with the market.

ASX. Graphs of a climbing stockmarket seen at The Australian Stock Exchange in Sydney. AFR Photo by Andrew Quilty.
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Trading frequency and average trade size have gone...
ASX. Graphs of a climbing stockmarket seen at The Australian Stock Exchange in Sydney. AFR Photo by Andrew Quilty. 29 June 2012.

4K3C6331.
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ASX. Graphs of a climbing stockmarket seen at The Australian...
Australia?s ageing financial system needs to be strengthened with modern solutions.

AFR MAG.  Generic Pic of UBS Trading FLoor Level 2 Chiefly Tower Sydney.  Pic by Nic Walker.  Date 27th July 2012.
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Australia?s ageing financial system needs to be strengthened...
The ASX's automated trading system was out of action for more than three hours
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The ASX's automated trading system was out of action...
Age file pic. Chalkies posting
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Age file pic. Chalkies posting
Trading was brisk at the
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Trading was brisk at the
Generic hedge with umbrella, 29
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Generic hedge with umbrella, 29
A businessman is submerged in
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A businessman is submerged in
Bull at the gate: The
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Bull at the gate: The
Bull at the gate: The
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Bull at the gate: The
Mark Weldon, chief executive officer,
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Mark Weldon, chief executive officer,
Charting a fall: As 10am
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Charting a fall: As 10am
Improvements in technology have given
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Improvements in technology have given
ASX newcomer .. the property
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ASX newcomer .. the property
Nearly 90 S&P 500 companies
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Nearly 90 S&P 500 companies
ASX Australian stock exchange. results
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ASX Australian stock exchange. results
So, what sort of correction
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So, what sort of correction
Is the start of economic
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Is the start of economic
The ascent of hedge funds
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The ascent of hedge funds
Generic Australian Stock Exchange ASX.
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Generic Australian Stock Exchange ASX.
Generic pictures at the Austalian
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Generic pictures at the Austalian
Robert Stewart and Peter Gerrand:
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Robert Stewart and Peter Gerrand:
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