Weekly Update 28 Sep 2018
This week, bonds were higher, cryptos were lower, and other asset classes were mixed. Palladium was the big winner, rising 5.7%. Ethereum fell the most, dropping 8.9%, giving up about half of the prior week's 16.8% gain.
National currencies were mostly higher, with the exceptions being the Euro, off 0.3%, and the Japanese Yen, which was unchanged. The Chinese Yuan gained the most, rising 1.2%. Short term bonds and USD cash rose 1.0% while long term bonds added 1.1%.
Bitcoin moved lower early in the week, closing at 166.8 grams on Tuesday, then rallied to finish the week at 174.1 grams, off 0.4%. Ethereum followed a similar pattern, closing at 5.6 grams on Wednesday, followed by a weaker rally to close at 5.8 grams, down 8.9%.
The Nikkei 225 was the strongest equity index, rising 1.1%. The Euro STOXX fell the most, dropping 1.1%. The S&P 500 added 0.4% while the Dow Jones Industrials were off 0.1%.
The week's biggest gains were all in commodities, as palladium gained 5.7%, crude oil spiked 4.5%, and coffee rose 3.5%. Cotton was the weakest commodity, falling 2.6%.
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