Rising prices: A file picture showing gold bullion displayed at an outlet in London. Gold managed to post a 12.5 return on the year, very close to the consensus 13 gain strategists pencilled in at the start of 2017. — Reuters
NEW YORK: The year was typically full of surprises but market reactions defied conventional wisdom, leaving many a prognosticator flummoxed.
Take the global economy. It fired on all cylinders, yet bond yields went nowhere. North Korea threatened nuclear armageddon, and volatility in US equities sank to a record just six weeks later. Mainstream candidates won major elections in Europe, but a cryptocurrency asset that supporters say will protect from untrustworthy policy makers soared in value.
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