Bonds and cryptocurrencies were lower, but other asset classes were mixed. The largest gains were in the Nikkei 225 index and palladium, which rose 3.2% and 3.0% respectively. The largest losses were in Ethereum, which declined 5.6%. The USD was 0.7% lower.
Most assets moved higher, but each class (except cryptocurrencies) had a loser. The largest price swings were in commodities, as crude oil and cotton gained 5.0% and coffee fell 4.1%.
National currencies had only one decliner, the Japanese Yen, which closed off 0.2%. Although not in the table, the strongest currency I follow was the British Pound Sterling, which soared 4.6%. The Canadian Dollar came in second, rising 2.3%. USD cash was much stronger than it's bonds, rising 1.4% while the short term SHY added 1.0% and the long term TLT fell 2.5%.
Stocks were lower, while all other asset classes were mixed. Crude oil and platinum had the largest drops, falling 6.2% and 6.1% respectively. Long term bonds made the strongest gains, rising 1.8%.
Bonds were higher, cryptocurrencies much lower, and all other asset classes were mixed. Ethereum had the largest drop, falling 19.2% to give up all of last week's gains. Bitcoin's slide accelerated, as it closed the week at 172.3 grams, down 18.3%. Coffee gained 3.4%, the biggest increase of the week. Palladium was the runner-up, rising 2.3%.
Bonds fell again this week, with the so-called "safe haven" long term TLT plunging 6.3%, the largest drop of any asset. Most others rose, led by Ethereum, which gained 8.0%, and cotton which added 7.8%. Although the major stock markets moved higher, gold stocks continued to fall, dropping 5.9%.
Cryptocurrencies rose, bonds fell, and other asset classes were mixed. Bitcoin made the week's largest gain, rising 8.2%. Although most stock markets moved higher, gold stocks fell more than any other asset, dropping 5.0%.
This week, national currencies, bonds, and cryptocurrencies fell, while stocks and commodities were mixed. The largest gains were in the precious metals, as platinum rose 7.9% to close at 19.0 grams and silver advanced 5.5% to 372 mg. The largest losses were in cryptocurrencies, as Ethereum dropped 14.7% and Bitcoin fell 9.3%. The Dow closed the month below its 36 month moving average, flashing a sell signal (see more below).
It has been an interesting week with a surprise ending! Up until Friday's London PM fix, the official price I use for calculating the value of the US Dollar and other currencies, my summary would have been "National currencies, cryptocurrencies and bonds rose, while equities and commodities were mixed." But shortly after the PM fix, all hell broke loose in the trade war between the US and China, and currencies, especially the USD, tanked. This affects the prices of all the assets quoted in those currencies, pushing most of them lower by 1.0% to 1.5%. So the summary became "National currencies and bonds fell, while cryptocurrencies, equities and commodities were mixed." The biggest winners and losers remain the same, however. Gold stocks trounced all other assets, rising 6.7% (or 5.2% at end of day). The largest losses were in cotton, which dropped 2.5% (or about 4.0% by end of day).
National currencies, cryptocurrencies and equities fell, led by Bitcoin which dropped 13.6%, giving back most of its gains for the last month. Bonds and commodities were mixed, with the largest gains in TLT, the long term bond fund, which rose 3.1%. Outside of the cryptos, the largest losses were in coffee, down 5.7%, and platinum, off 4.6% to a new all-time low of 17.1 grams.
National currencies and bonds fell, while all other asset classes were mixed, but mostly lower. The largest gains and losses were both in the cryptocurrency group, as Bitcoin rose 8.6% and Ethereum fell 7.0%. The second-largest losses were in the Chinese Yuan, which plunged 6.4% — a huge one-week drop for a national currency. The next largest gains were in gold stocks, which added 1.3%. The only other rising asset was silver, up 1.0%.