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Weekly Update 17 Jun 2022

A big red week! Every asset in the table moved lower except silver, which managed a 0.6% gain. The worst losses were in crypto, as ether plunged 35.2% and bitcoin fell 30.1%. Outside of crypto, the hardest hit were crude oil, down 9.8% and gold stocks, down 8.3%.

Among the national currencies, the Chinese Yuan, off 0.1%, and the USD, down 0.6%, were the strongest performers. Weakest were the Canadian Dollar, down 2.7%, and the Japanese Yen, down 1.4%. Treasuries fell more than USD cash, as short term notes declined 0.8% and long term bonds dropped 2.1%.

The largest crypto currencies were hardest hit, as Ethereum closed down 35.2%, and Bitcoin fell 30.1%. The CCi30 index dropped 25.1% as many smaller projects fell less than the majors.

Equity indexes were all in the red, led by the gold stocks, which fell 8.3%, and the Nikkei, which dropped 8.0%. The best performers were the Euro STOXX, down 5.1%, and the Dow Industrials, down 5.4%.

Silver was the lone commodity (and lone asset) in the green, rising 0.6%. Coffee, down 1.2%, was next best. Crude oil fell 9.8%, and copper dropped 7.1%, earning them the title of the worst performing commodities.

Year over year, only three assets are in the green: cotton, up 64.6%, crude oil, up 49.0%, and coffee, up 47.0%. Everything else is lower, led by the cryptos. The CCi30 index fell 67.3%, and ether dropped 53.6%. Outside of crypto, the largest losses were in Palladium, down 33.2%, along with the Nikkei and Euro STOXX indexes, down 29.6% each. US stocks outperformed other equities, as the Dow fell "just" 14.6%, and the S&P 500 declined 15.9%.

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