THE year 2021 was a year full of surprises if we may conclude. Just when the global economy was starting to get the hang of the pandemic by inoculating the population and restraining the possibility of outbursts, a new Covid-19 variant emerged by the end of November, turning the markets topsy-turvy once again.
Investors unloaded risky assets and flocked to safe havens as Brent slumped by as much as 11.5% while WTI dropped by 13.1%. The Dow Jones and S&P 500 fell by more than 2% on the same day and on the other hand, the Japanese yen firmed up 1.7%.
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