Weekly Update 24 Jan 2020
Most asset classes moved lower; the main exceptions were gold stocks, which rose 3.0%, and long term treasury bonds, which gained 2.5%. The largest losses were in crude oil, which dropped 7.8%, and copper, which fell 6.1%. Cryptocurrencies also pulled back, less than some commodities, but more than stocks or bonds.
Among the national currencies, only the Yen managed a gain, rising 0.2%. The Euro fell most, dropping 1.1%. The US Dollar declined 0.4%; its bonds did better than cash, as the short term SHY was off 0.3% and the long term TLT rose 2.5%.
Cryptos saw a broad decline; Bitcoin dropped 5.8% and Ethereum declined 4.9%. Some of the smaller cryptos fell much more. DASH (not in table) plummeted 12.2%, but to be fair, this gave back only a small part of the previous week's monumental 102% gain.
Gold stocks made the largest gains of any asset, rising 3.0%, but all the other equities in the table fell. The European STOXX index dropped the most, falling 2.2%. In the US, the Dow Jones 30 Industrials declined 1.6% and the broader S&P 500 gave up 1.4%.
Commodities all declined, led by crude oil and copper which fell 7.8% and 6.1% respectively. The precious metals fared the best, as Platinum dropped 0.7% and palladium pulled back 0.8%. Silver closed 1.7% lower.
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