Weekly update 23 Jul 2021

Equites and commodities were mixed, but all other assets were in the green. The largest drop was in platinum, which fell 3.9%. Coffee continued to rise strongly, adding 18.7%, and Ethereum rebounded to close the week up 14.5%.

All national currencies were higher, led by the Canadian and US Dollars (up 1.5% and 1.4% respectively). The Japanese Yen lagged behind, rising 0.9%. Treasuries outperformed USD cash; short term notes were up 1.5% and long term bonds were up 1.6%.

It was a wild week for the cryptos. Bitcoin fell to a low of 508.6 grams on Tuesday before rocketing higher to close at 580.4 grams, up 8.3%. Ethereum followed a similar trajectory, but rose even higher, finishing up 14.6%.

Gold stocks fell 1.0% and the Japanese Nikkei dropped 0.7%, but other equity indexes rose. The S&P 500 gained 3.4%, and the European STOXX50 added 3.0%.

Platinum fell 3.9% and silver declined 2.3% (the week's worst performers) but other commodities moved higher. Coffee was the strongest asset overall, rising 18.7% to beat out even Ethereum! Copper also did well, adding 3.1%.

Year over year, only gold mining stocks, down 18.2%, and long term bonds, off 7.5%, are in the red. Crypto continue to dominate, with Ethereum up 734.2% and the broad index of 30 cryptos up 288.2%. Outside of crypto, commodities were the place to be, as copper rose 83.5% and crude oil gained 83.2%. The DJIA was the best performing stock market index, rising 37.3%.

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