National currencies and bonds rolled over and headed lower. Cryptocurrencies mostly fell, but stocks and commodities were mixed. Long term bonds experienced the largest drop, falling 4.7%. Coffee once again had the biggest rally, rising 3.6%.
The Chinese Yuan was the strongest national currency, falling just 0.3%, while the US Dollar was the weakest, dropping 1.7%. Short term notes fell 1.7%, in line with USD cash, but long term bonds got hammered, plummeting 4.7%, the largest loss of the week.
Bitcoin dipped to a low of 183.1 grams on Monday, then recovered gradually to close at 183.4 grams, down 2.1%. Ethereum was relatively stable, ending the week unchanged. The CCi30, tracking the broader cryptocurrency market, slid 0.8%.
Stocks were mixed but mostly higher, with gold stocks once again outperforming the major indexes, rising 1.8%. The Nikkei was the only declining index, falling 1.2%. The S&P 500 gained 1.5% and the Dow added 0.9%.
Coffee was the best performer overall and within the commodity complex, finishing up 3.6%. Palladium experienced the largest drop in the sector, falling 2.3%. Platinum showed strength, rising 1.6%. Silver and crude oil were little changed, up 0.1% and down 0.2% respectively.
Ethereum retained its position as the leader over the last year, rising 65.3%. The CCi30 crypto index was in second place, with a gain of 21.9%. Contending for third place are silver, up 17.0%, palladium, up 16.8%, and the HUI gold stocks, up 16.7%. Crude oil has fallen the most, dropping 39.5%. It's a tight race for second place between the USD, off 21.5%, and the JPY, down 21.0%.
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