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By Michael BROWNE, Portfolio Manager, European Long/Short at Martin Currie (a Legg Mason affiliate)
NASDAQ indices are at record highs, but 2018 seems to be characterized by persistent volatility in the stock markets. What does this mean?
The US market has been strong , driven by tax cuts and buybacks, whilst at the same time the FED have been raising rates. Obviously we don’t have those factors in Europe hence the struggles the Euro markets have had, hanging on to the coat-tails of the US. This has left the valuation gap between the two at an all-time high.
What is your view on European equities? Can you also tell us something about Italy market?
European Equities are...
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