The prospects for real assets in 2017 have not changed much from 2016, and remain moderately positive with upside potential in some categories.

Since the Global Financial Crisis of 2008, the economies of developed nations and much the rest of the globe have been characterized by low inflation, low growth and low interest rates.

This outlook continues to set up well for real estate, to indicate positive moderation in energy and commodity markets, and to spell a puzzle for precious metals. The other real asset markets, such as art, wine, timber, collectibles or autos, should generally do well given the limited appeal of bonds or other interest rate-related assets, but remain alternatives for the financially adventurous, and in general offer no yield.

ENERGY

After a couple years in which supplies have outstripped demand, the outlook may be improving in the energy sector, especially for oil. Yet the oil and energy markets regularly make mocke