Weekly Update 17 Mar 2017

Commodities were mixed, while major stock indexes, bonds and government-issued currencies were lower. Bitcoin volatility continued, as the BTC rose back above one ounce of gold last week, then fell to close down 6.3% at 27.1 grams. The largest gains were in the gold stocks, which rose 2.4% to close at 4.9 grams.

The Japanese Yen was the least weak currency, falling 0.4%. The weakest national currency was the US Dollar, which fell 2.2%. Bonds were mixed but this time favored the longer maturities: the long term TLT was off 1.1%, while the short term SHY lost 2.1%, and USD cash was down 2.2%.

The only equities to close the week higher were the gold stocks: the HUI rose 2.4%. The Dow Jones Industrials led the major indexes lower, falling 2.1%, followed by the S&P 500, which dropped 2.0%. The Euro STOXX FEZ and Japanese Nikkei 225 each fell 0.9%.

Commodities were mixed, with copper up 1.3%, and palladium up 1.2%. Crude oil saw the largest losses, falling another 1.6%. Platinum fell 0.3% while silver rose 0.8%.