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Consensus moves from deflation to reflation

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“What we can’t control for is the potential double whammy of a political surprise or an executive order from the US president that severely undermines either trade or existing security arrangements in Asia.” - Mark McFarland, Chief Economist Asia, Union Bancaire Privée

AFTER the horrendous start to 2016 it should surprise no one that people are prone to nervousness. Brexit, Trump, Tapering and political risk have been the buzzwords of the last twelve months. Markets like certainty and these have created considerable uncertainty.

Even so, markets have

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