National currencies and bonds moved lower, while other asset classes were mixed, but mostly lower as well. The week's best performers were crude oil, up 9.9%, platinum, up 3.5%, and Ethereum, up 1.0%. The largest losses were in coffee, down 5.0%, the Euro STOXX, down 4.3%, and the Dow Industrials, down 4.1%. The US Dollar fell 2.8%, and Bitcoin closed off 1.3%.
The Euro, down 1.6%, was the strongest national currency, followed by the Chinese Renminbi, which lost 1.7%. The Japanese Yen was the weakest national currency, dropping 3.1%, while the US Dollar dropped 2.8%. USD cash was outperformed by short term notes, which fell 2.5%, and by long term bonds, which gave up 1.7%.
Equity indexes, with the exception of gold stocks, were all lower, led by the Euro STOXX, down 4.3%, and the Dow Jones Industrials, down 4.1%. Outside of gold stocks, which rose 0.2%, the Nikkei 225 index was the strongest, falling "only" 2.9%.
Once again, commodities saw the most violent price action, both positive and negative. Crude oil rose 9.9%, and platinum advanced 3.5%, while coffee fell 5.0% and copper dropped 3.3%. Silver closed the week down 3.1%.
Bitcoin fell 1.3%, outperforming all national currencies, bonds, and major stock indexes. Ethereum did even better, rising 1.0%.
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