This was a good week for stocks and cryptos, a bad week for bonds, and a mixed week for currencies and commodities. The biggest changes were in commodities, as copper rose 6.2% and coffee dropped 4.7%. Ethereum closed the week up 3.3%, but the crypto markets fell hard over the weekend, with Ethereum down 12% on Sunday.
The Euro was the strongest currency, gaining 0.6%, while the Canadian Dollar was the weakest, giving up 0.4%. Long term bonds fell 0.9%, while short term bonds and USD cash each fell 0.3%.
Bitcoin and Ethereum were both fairly stable throughout the week, closing up 0.8% and 3.3% respectively. Over the weekend, however, both saw large drops on low volumes, closing down 10 to 12% on Sunday. Several explanations have been floated, including the hack of Coinrail, a small Korean exchange, and fresh concerns about CFTC investigations into crypto price manipulations.
Gold stocks were the only equities to close lower, falling 0.5%. The Dow Jones Industrials led the field, rising 2.5%, followed closely by the Jappanese Nikkei Index, which gained 2.3%.
The real fireworks were once again in commodities. Copper rose 6.2% while coffee dropped 4.7%. Precious metals were mixed, with palladium up 2.1%, silver up 1.5%, and platinum off 0.5%. Crude oil fell slightly, giving up 0.4%.
Click for PDF version