Boesler also noted that the dollar-yen exchange rate saw a substantial rise of 22 percent, but did not note that this tempered the performance of the Nikkei 225. In US-dollar terms, the Nikkei 225 rose 29 percent, thus actually slightly underperforming the S&P 500.
According to Boesler, gold and US Treasuries were the worst performers, both losing money for the year. Emerging markets, including the Shanghai Composite, also lost money.
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