The economists and market-watchers at UBS have come up with their annual list of 10 potential financial and economic surprises for 2008. Here is their list of possible outcomes that go against the grain of current conventional investing wisdom:

1) Global growth surprises on the upside

2) Oil prices: Is 50 the new 20?

3) The dollar appreciates

4) World trade clouds

5) Developed deflation, developing inflation

6) Financials outperform

7) Emerging equity markets under-perform

8) Japanese equities outperform

9) Equity volatility settles at lower levels

10) Chinese inflation falls sharply

If you want to read their reasoning, click here. Download file