Weekly Update 26 Mar 2021

Cryptocurrencies continued to drift lower after last week's all-time highs; bonds advanced, and stocks, commodities and national currencies were mixed. US stocks were the big winners this week, as the Dow Industrials rose 1.9% and the S&P 500 gained 1.8%. The largest losses were in Ethereum, which dropped 6.1%, and Bitcoin, which fell 5.3%. Silver retreated 4.1%.

The US Dollar was the best performing national currency, rising 0.2%, and the Chinese Yuan was second best, closing unchanged. The Euro lagged behind its peers, falling 0.7%. Bonds had a good week, as short term notes tracked with cash, gaining 0.2% and long term bonds outperformed, rising 1.6%.

After reaching new all time highs last week, Bitcoin cooled off this week, retreating 5.3% to 0.99 kg. Ethereum fell 6.1% to 30.6 grams (just under one ounce), the week's largest loss. The alt coins continue to outperform the large caps, with the index of the top 30 coins falling just 1.3%.

Equities were mostly higher, with the exception of gold stocks, down 3.8%, and the Nikkei, off 2.5%. US stocks were the stars, as the Dow Industrials rose 1.9% and the S&P 500 gained 1.8%.

Commodities were mostly lower, with palladium, up 1.1%, the exception. Cotton and silver saw the largest drops, falling 4.9% and 4.1% respectively. Crude oil gave up 0.5%.

Year over year, we see cryptocurrencies massively higher, stocks solidly in the green, bonds in the red, and national currencies and commodities mixed. Ethereum rose 1,059%, outpacing even Bitcoin's 675% gains. Long term bonds turned in the worst performance, falling 20%. The Japanese Yen and the US Dollar fell 5.7% and 5.6% respectively. Other notable gains were in crude oil, up 154.7%, and copper, up 73.9%. The best performing equities were in Japan, where the Nikkei Average rose 47.5%.

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