Weekly Update 12 Oct 2018
This was a "mostly lower" week, with currencies, bonds and cryptos falling, while stocks and commodities were mixed. The largest drops were in cryptocurrencies, as Ethereum fell 14.7% and Bitcoin dropped 6.5%. The largest gains were in coffee, up 5.6%, and gold stocks, which gained 5.5%.
Most national currencies fell, with the Canadian Dollar, off 2.0%, dropping the most. The Japanese Yen was the only one to rise, and then only by 0.1%. Bonds were all lower, with the USD (notes of zero maturity) falling 1.3%, 1-3 year dropping 1.2%, and 30+ year off 0.1%.
Bitcoin held it's value quite well until Wednesday, then dropped sharply on Thursday and Friday, ending the week at 160 grams, down 6.5%. Ethereum followed a similar pattern, hitting a high of 6 grams on Monday and Tuesday, then collapsing on Thursday to a low of 4.9 grams, and recovering to finish the week at 5.0 grams, off 14.7%.
Equities were highly polarized, as gold stocks rose 5.5% while all major stock indexes fell sharply. The largest drops were in the US, as the DJIA and S&P 500 each fell 5.4%.
Coffee was the fastest rising commodity, gaining 5.6%. Crude oil saw the largest losses, falling 5.3%. Silver was also took a hit, dropping 1.5%. Copper was little changed, up 0.2%, while platinum and palladium rose 0.4% and 0.8% respectively.
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