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Weekly Update 27 Nov 2020

Every asset in the table moved higher except Bitcoin and gold stocks, which declined 3.1% and 0.3% respectively. The largest gains were in commodities, as crude oil soared 13.9% and coffee roared 13.4% higher. Third place went to the CCi30 crypto index, which rose 10.8% despite the losses in Bitcoin, it's largest component.

Among national currencies, the Euro performed best, rising 6.3%, followed closely by the Canadian Dollar, which rose 6.2%. The Chinese Yuan lagged behind its peers, adding 3.3%. US Dollar cash and short term notes gained 5.4%, while long term bonds added 4.6%.

Bitcoin took a little breather from its recent meteoric rise, pulling back 3.1%, but much of the crypto-sphere was on fire; Ether rose 7.0% and the broader universe of the 30 largest cryptos closed up 10.8%. Even after its decline this week, Bitcoin remains above its 2019 highs.

Gold stocks fell 0.3%, but the major stock indexes were all higher, led by the Nikkei which rose 9.8%. US stocks underperformed, adding 7.7% for the Dow and 7.8% for the S&P 500.

Commodities were all higher, led by crude oil rising 13.9% and coffee gaining 13.4%. Silver was the weakest commodity, adding just 0.9%.

Year over year, cryptos dominate with Ethereum up 184.0%, and Bitcoin up 85.7%. Silver bullion and gold stocks earn honorable mentions, rising 10.9% and 9.6% respectively. The worst losses were in crude oil, down 36.3%, followed by the US Dollar, off 18.3%.

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