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Fear, Loathing and the Best Quarter for Risk Assets in a Decade

After riding the best first quarter in at least a decade across assets including stocks, credit and crude, a growing chorus of investors has a new mantra: Don’t look down. It’s the yin to this rally’s yang, the conclusion of the adage about things that keep going up. It also reflects growing unease that risk assets are running on little more than the fumes of a dovish turn by central banks.

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