Weekly Update 20 Apr 2018

Bonds and currencies were mixed, while cryptocurrencies, equities, and commodities were all higher. Ethereum and Bitcoin were by far the strongest assets, rising 25.6% and 12.6% respectively. The weakest asset class was long term bonds, as TLT fell 1.5%.

Among the currencies, the USD rose the most, gaining 0.5%, while the Canadian dollar had the largest drop, falling 0.4%. The Chinese Yuan was the only other decliner, giving up 0.2%. Bonds were mixed, with the long term TLT falling 1.5%, while the 1-3 year SHY rose 0.4% (but was outperformed by zero-maturity USD cash).

For the second week in a row, cryptocurrencies powered higher, leaving all other asset classes in the dust. Ethereum surged 25.6%, with most of the move happening in the last half of the week. Bitcoin rose "only" 12.6%, following the same pattern.

Stock indexes all rose, led by the Nikkei, which gained 2.1%. US stocks were the weakest, with the Dow Jones Industrials rising 0.9%. Gold stocks were also up 0.9%.

Commodities were the strongest assets outside of the cryptocurrencies. Palladium rose 5.1% and silver gained 4.2%. The weakest commodities were coffee, up 0.9% , and platinum, which added 1.0%. Copper rose 2.4%.

Priced in Gold Weekly Summary

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