Weekly Update 1 Apr 2022

Commodities were mixed, stocks were mixed but mostly higher, and cryptocurrencies, national currencies and bonds were all on the rise. Ethereum gained the most, advancing 12.4%. The CCi30 crypto index was in second place, rising 10.9%. Outside of cryptos, coffee and long term bonds were the best performers. Crude oil fell the most, dropping 11.7%, followed by palladium, down 5.8%, and silver, off 2.4%.

The Euro (up 1.7%) was the best performing national currency. The Japanese Yen (up 0.5%) was the weakest. US Dollar cash rose 1.3%. Short term notes gained 1.0%, while long term bonds turned in one of the week's strongest performances, rising 4.2%.

Cryptos crushed it this week. Ether rose to 55.4 grams on Tuesday, then pulled back to 52.6 grams on Thursday before sprinting to close the week at 55.6 grams, up 12.4%. The broader index of 30 cryptos gained 10.9%. Bitcoin trailed, but still added a respectable 5.7%.

Gold mining stocks once again outperformed the major equity indexes, rising 3.4%. In second place was the Euro STOXX, up 2.8%. The Nikkei 225 index was the only decliner, falling 1.2%. The S&P 500 added 1.3%.

Crude oil and precious metals fell, while copper and soft goods moved higher. Crude dropped 11.7%, the weeks largest loss. Palladium was in second place, down 5.8%, followed by silver, off 2.4%. Coffee was the best performing commodity, rising 4.3%.

Year over year, the big gains are in coffee, up 68.0%, and Ethereum, up 57.6%. Cotton and crude oil have also done well, rising 54.4% and 44.5% respectively. The largest losses are in Bitcoin, down 29.9%, and platinum, down 25.8%. The Japanese stock market and the Yen itself were also big losers, falling 24.2% and 19.5% respectively.

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