The macro outlook that everyone's looking towards the first half of the year is going to be lousy for risk assets. The second half of this year will be a pivot and risk assets are going to take off, says John Defterios. People are starting to learn a lot about what documents mean not to keep hitting on fixed income but one of the fun things about stocks is you're kind of promised everything else of a company but when you lend someone money it's all in the paper.

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