Weekly Update 16 Oct 2020

Currencies and bonds moved higher, but other asset classes were mixed. The biggest gains were in cotton, which rose 4.4%, and Bitcoin, which gained 3.2%. Palladium fell more than any other asset, dropping 3.9%. Coffee was in second place, declining 2.9%.

The Japanese Yen was the strongest national currency, rising 1.2%. The US Dollar was next best, gaining 1.0%. The Euro was the weakest, adding just 0.1%. Short term notes tracked USD cash, advancing 1.0%, but long term bonds did much better, rising 1.8%.

Bitcoin rose 3.2%, the second largest gain in this week's table. Monero (not in table) did far better, soaring 13.9%. Ether rose 1.0%, but the broader 30 crypto index fell by 0.2%.

US stock markets rose, led by the S&P 500 which gained 1.1%. Gold stocks underperformed, falling 1.0%, as did the Euro STOXX, which dropped 0.9%. The Dow Industrials added 1.0%.

The week's big price moves were mostly in commodities, as cotton rose 4.4% and palladium fell 3.9%. Crude oil added 1.7% and coffee dropped 2.9%. Silver was up 1.1%.

Looking back over the last year, Ethereum and gold stocks continue to be the dominant winners, gaining 57.7% and 28.2% respectively. Crude oil and the Euro STOXX were the worst performing assets, falling 40.3% and 25.6% respectively.