JP MORGAN ASSET MANAGEMENT: 5 shock predictions for 2017

The year has been defined by the Brexit vote, the election of Donald Trump as US president, and the resignation of Italy's prime minister.

There have also been wild swings in financial markets as the pound crashed to a 31-year low against the dollar, US markets hit dozens of record highs, and China continued to devalue the renminbi.

Markets have surprised with their reactions to major events - pretty much everything but the pound recovered soon after the Brexit vote and US assets recovered almost immediately after Trump's victory, taking just a few hours to erase any losses.

What 2017 holds is anyone's guess, but with elections in France, the Netherlands, and possibly Italy coming up, Trump moving into the White House, and Britain set to trigger Article 50, uncertainty will likely reign supreme once again.

JP Morgan Asset Management's Global Head of Fixed Income, Bob Michele, has made some market predictions for 2017 that are unlikely but could end up proving true in the current topsy-turvy environment.

Here are Michele's five "realistic surprise predictions":