ART CASHIN: Markets Are Ignoring Some Big Geopolitical Risks

Stocks are near their highest levels since 2007, even as the global economy struggles to accelerate again.

And outside of the many global economic concerns are geopolitical risks that often go ignored.

Art Cashin, UBS Financial Services' Director of Floor Operations, lists a few in this morning's Cashin's Comments:

Geo-Politics – While the markets seemed to ignore them, there are several things I'm watching. Activity near North Korea's nuclear testing area may put South Korea on full alert.

Egypt bubbles. Suez transit somewhat hobbled amid protests and worker walkouts. Army may have to handle shipping. Ahmadinejad will visit Cairo this week. Foodstuffs continues in short supply.

Israel's neighbors claim the convoy strike in Syria may have been a set up to allow Assad to try to rally public morale. Thinking is better to deal with a wounded Assad than Islamist activists.

There are lots more and the sequestration clock is ticking.

Any one of these could rock the markets.

SEE ALSO: The 10 Biggest Geopolitical Risks To The World In 2013 >