Weekly Update 9 Jun 2023

National currencies and bonds rose, cryptos pulled back, and stocks and commodities were mixed. The largest gains were in coffee, up 5.9%, the Nikkei 225 index, up 2.7%, and silver, up 2.0%. The worst losses were in the CCi30 crypto index, which fell 6.9%, palladium, down 6.6%, and Bitcoin, off 2.7%. US Dollar cash outperformed treasury debt, rising 0.2% while long term bonds gained 0.1% and short term notes were unchanged.

The Euro and the Yen were the best performing national currencies, rising 0.4% each. The US Dollar and Chinese Yuan came in last, adding 0.2% each. Tresuries underperformed USD cash, with short term SHY breaking even and long term TLT advancing 0.1%.

Crypto had a bad week as the SEC filed suits against Binance and Coinbase, claiming that several major alt-coins were unregistered securities. The broad index of 30 cryptos fell 6.9%. The majors did better, as Ethereum gave up 0.4% and Bitcoin retreated 2.7%.

Japan's Nikkei index led equities with a 2.7% gain, followed by the Dow Industrials and the S&P 500, which added 0.5% each. Gold stocks fell the most, dropping 1.0%.

Commodities had the most extreme price moves, as coffee rose 5.9% while palladium dropped 6.6%. Cotton fell 2.2% as silver gained 2.0%. Crude oil ended the week down 2.0%.

Year over year, most assets are in the red, with a few notable exceptions, as the Euro STOXX rose 10.3%, silver gained 4.3%, and the Nikkei 255 added 3.6%. The worst losses were all in commodities: cotton, down 46.0%, crude oil down 45.7% and palladium, down 35.1%.

Click for PDF version

Filed under monetary universe by  #