Bonds fell, cryptocurrencies advanced, national currencies and stocks were mixed but mostly lower, and commodities were mixed but mostly higher. The week's best performers were Ethereum, up 17.2%, the CCi30 crypto index, up 12.6%, and copper, up 8.5%. The largest losses were in coffee and long term bonds, down 2.0% each, followed by platinum and the Japanese Yen, down 1.7% each. The US Dollar fell 0.6%, and Bitcoin rose 8.2%.
The Japanese Yen, down 1.7%, was the weakest national currency, followed by the Euro, down 1.4%. The Chinese Renminbi was the only national currency in the green, rising 0.8%. USD cash and short term notes, down 0.6% each, outperformed long term bonds, which fell 2.0%.
Gold stocks rose 0.2%, the only equity market in the green. The largest equity losses were in the Dow Jones Industrials, down 1.6%, and the S&P 500, down 0.9%. European equities outperformed their US counterparts, falling just 0.3%.
The best performing commodities were copper, up 8.5%, and palladium, up 3.4%. Coffee, down 2.0%, and platinum, down 1.7%, saw the largest losses. Silver finished the week up 1.1%.
The S&P 500 closed the week at 58.1 grams, 66.4% below its 1999 all-time high of 173.1 grams, despite reaching a new all-time high when priced in depreciating dollars. Similarly, Bitcoin closed the week at 1.09 kg, 12.8% below its all-time high of 1.25 kg, even though it is also trading at new all-time highs when priced in dollars.
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