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By Michael Browne Steve Frost, Portfolio Managers, European Long/Short, at Martin Currie (a Legg Mason affiliate)
Political shocks and economic uncertainty were the norm across global markets in 2016 and Europe was frequently centre stage. For investors it was often a challenging period as they attempted to navigate the murky waters. However, despite the volatile backdrop, we see reasons for optimism in the year ahead
Will Europe lift itself from deflationary gloom any time soon? The simple message from us is, yes. We are more optimistic that deflation will become less of an issue in 2017. However, it will be important to monitor if this effect is only a short-term response to the recovery in the oil price to over US$50 per barrel....
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