$11bn of daily buying....What could go right in November?

The numbers are huge

We are following up on our "what could go right in November?" note from yesterday. The daily buying numbers could be huge. Buybacks $5bn and retail inflow $2.5bn. Add to that a potential CTA reversal (up to $10bn daily) and then also re-emerging M&A and potentially also HF re-leverage. Clearly the risk is to the upside right now in terms of flow.

Did they de-risk enough?