Weekly Update 5 Nov 2021

National currencies and bonds moved lower, but other asset classes were mixed. Gold stocks, up 2.1%, had the largest increase, while crude oil, down 4.2%, and Bitcoin, off 3.6%, had the largest declines.

The Chinese Yuan, off 0.1% was the strongest national currency, while the Euro, down 3.0%, was the weakest. The US Dollar dropped 1.8%. Short term treasury notes did slightly better, falling 1.6%. Long term bonds outperformed, closing down 0.6%.

The broad crypto market as measured by the CCi30 index advanced 1.1%, while Bitcoin consolidated between it's recent high and the 1 kg level, finishing at 1,055.2 grams, off 3.6%. Ethereum made a new all-time-high of 81.3 grams on Wednesday, then pulled back to close the week down 0.2%.

Stock markets had a good week, with only the Dow Industrials closing lower by 0.4%. Gold stocks took the lead, rising 2.1%, while the the Japanese Nikkei gained 1.1%.

Commodities were mixed, but most of the action was to the downside. Crude oil fell 4.2%, the largest drop of any asset in the table. Silver close down 2.6%, and copper closed off 2.4%. Palladium rose 0.9%, and platinum was little changed.

Year over year, the table is mostly green. Cryptos have been the best performing asset class, led by Ether, up 1,076.5%, and the CCi30, up 513.4%. Crude oil is up 126.1% and coffee has risen 107.3%. The worst declines have been in gold stocks, down 19.4%, and palladium, off 9.3%.

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Weekly Update 29 Oct 2021 ETH at All-Time High

Reversing colors again, this week is mostly in the green. Ethereum made the largest gains, rising 13.7% to a new all-time high of 77.6 grams. Cotton also did very well, adding 8.4%. The weakest assets were platinum, down 2.9%, and gold stocks, off 2.1%.

The only declining national currency was the Chinese Yuan, down 0.3%. The US Dollar showed the most strength, gaining 2.2%. Short term notes followed suit, also gaining 2.2%, while long term bonds outperformed, rising 4.7%.

Cryptos were very strong, especially Ethereum, which rose 13.7% to a new all-time high of 77.6 grams. The broader crypto market followed; the CCI30 index added 6.4% and Bitcoin advanced 4.8% to just shy of 1.1 kg, hovering about 5% below its all-time high.

Stocks had a deceptively good week, with the DJIA and S&P 500 making new all-time highs in US Dollar terms. Priced in gold, only the HUI gold stocks were in the red, falling 2.1%, and the S&P 500 rose 3.6% to a 15 year high… but that's still 53% below its all-time high of 173.1 grams set in July of 1999. The DJIA gained 2.6% to close at 629.7 grams, but failed to surpass its August high of 636.5 grams, and sits 55% below its 1999 all-time high of 1,393.2 grams.

The commodity sector was mixed, with cotton rising 8.4% and platinum falling 2.9%. Copper declined 0.7% while silver gained 0.9%. Coffee rose 4.3% and crude oil finished 2.0% higher.

Year over year, only four assets are in the red: gold stocks, down 14.6%, palladium, down 5.5%, the Japanese Yen, off 2.9%, and long term treasury bonds, off 0.6%. The biggest winners are, of course, cryptos. Ether beat all other assets, climbing 1,100.6% to a new all-time high, and the broader 30 crypto index gained 502.3%. Outside of cryptos, the best gains are in crude oil, up 144.3%, and coffee, up 106.1%. The best performing stock index is the Euro STOXX, which gained 49.8%.

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Weekly Update 22 Oct 2021

In a reversal of last week's "mostly green" theme, this week is mostly red; only silver (up 2.5%), the Chinese Yuan (up 0.9%), and Ethereum (up 0.8%) finished higher. Palladium and copper fell the most, dropping 6.9% and 6.8% respectively. Bitcoin pulled back 3.4% after making new all-time highs, but remained above the 1.0 kg level.

The Chinese Yuan was the strongest (and only rising) national currency, adding 0.9%. The US Dollar was the weakest, dropping 2.0%. Treasury bonds did even worse, as short term notes declined 2.1% and long term bonds fell 2.6%.

Cryptocurrencies had a wild ride. Bitcoin rose to a new all-time high of 1,154 grams before pulling back to close at 1,044 grams, off 3.8%. Ether also made a new all-time high of 72.7 grams, but closed the week with only a small gain, up 0.8%.

Stocks were all in the red, with the Nikkei 225 taking the largest hit (down 2.5%). Gold stocks held up the best, giving up just 0.3%. The Dow Industrials and the S&P 500 dropped 0.9% and 0.4% respectively.

Silver was the best performing asset this week, rising 2.5%, but the rest of the commodity complex was in the red. Hardest hit were palladium (down 6.9%) and copper (down 6.8%). Crude oil declined 0.2%.

Year over year, most assets are in the green, led by the crypto space. ETH is up 977.2%, and the broader 30 crypto index is up 454.7%. Outside of crypto, the best performers are crude oil, up 116.7% and coffee, up 96.9%. Gold stocks show the largest loss, falling 16.2%. Palladium is 10.3% lower. The only other assets in the red are the JPY, down 3.0% and long term bonds, off 2.2%.

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Weekly update 8 Oct 2021

Cryptocurrencies rose and bonds fell; national currencies and stocks were mixed but mostly lower, while commodities were mixed but mostly higher. Bitcoin, up 11.1%, and Ether, up 6.8%, made the largest gains. The largest losses were in long term bonds, down 3.3%, and coffee, off 2.2%.

I'm moving this week… Some commentary may be missing or minimal!

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Weekly Update 1 Oct 2021

Stocks and bonds fell, cryptocurrencies rose, and national currencies and commodities were mixed. Ether, up 12.2%, and Bitcoin, up 11.7%, made the largest gains. The largest losses were in the Nikkei, down 5.4%, the Euro STOXX, down 4.1%, and silver, off 3.1%.

The Chinese Yuan was the only rising national currency, gaining 0.3%. The Euro took the worst beating, falling 1.6%. The US Dollar dropped 0.6%; short term treasuries outperformed cash, falling 0.5%, but long term bonds did much worse, retreating 1.6%.

Cryptocurrencies were all in the green, led by Ether, which rose 12.2%. Bitcoin did nearly as well, moving up 11.7%, while the broader 30 crypto index added 9.4%.

Equity markets all moved lower. The Japanese Nikkei index took the largest hit, falling 5.4%, followed by the European STOXX, which dropped 4.1%. Gold stocks outperformed, giving up 1.5%. In the US, the Dow declined 1.9% while the S&P 500 fell 2.8%.

Commodities were mixed, with metals down and soft goods and energy up. Cotton rose 8.3% and coffee added 4.4%, while silver fell 3.1% and copper lost 2.8%. Crude oil closed up 2.0%.

Year over year, most assets are in the green. The exceptions are gold stocks, down 24.9%, palladium, down 11.4%, and long term treasuries, off 2.3%. Cryptos are still the best performers, as ether has risen 886.6% and the broad 30 crypto index is up 449.6%. Outside of crypto, crude oil, up 112.1%, and coffee, up 106.3% are the largest winners. The S&P 500 is the best performiong stock index, gaining 39.5%.

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Weekly Update 24 Sep 2021

Cryptocurrencies moved lower; national currencies, stocks, bonds and commodities were mixed. Coffee, up 4.8%, and cotton, up 4.5%, made the largest gains. The largest losses were in Ether, down 13.3%, and the CCi30 crypto index, off 11.5%.

The Chinese Yuan was the best performing national currency (up 1.9%), while the Japanese Yen was the worst (down 0.1%). The US Dollar gained 0.5%. Short term notes underperformed cash, rising 0.4%, and long term bonds did much worse, falling 1.0%.

Ethereum started the week on an upnote, but collapsed on Monday and Tuesday, dropping 19.5% to 48.5 grams before recovering to close at 52.2 grams, down 13.3%. News of yet another Chinese crypto crack down, along with fear of a Chinese real estate melt-down seemed to be the key drivers. Bitcoin (and many other cryptos) followed a similar pattern, but BTC fell less and recovered more robustly, ending the week at 762.8 grams, off 8.9%.

Gold stocks fell 2.5% and the Japanese Nikkei index closed down 1.0%, but other equity indexes moved higher by about one percent. The Dow Industrials did slightly better than its peers, adding 1.1%.

The week's biggest winners were commodities, as coffee rose 4.8%, cotton gained 4.5%, and crude oil rallied 3.3%. Outside of crypto, palladium was the week's largest loser, closing down 3.5%. Silver also declined, giving up 1.0%; the rest of the metals did better, as platinum added 2.2% and copper rose 1.5%.

Year over year, only gold stocks (down 23.5%), palladium (down 6.4%) and long bonds (off 3.9%) are at a loss. Cryptos are still the strongest asset class by far, especially Ether, which is up 880.7%. Aside from crypto, crude oil (up 95.6%), and coffee (up 86.4%), are the best performers.

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Weekly Update 17 Sep 2021

Cryptocurrencies, national currencies, and bonds moved higher; stocks and commodities were mixed. Ether, up 8.2%, and Bitcoin, up 7.6%, made the largest gains. Crude oil finished in third place, rising 5.5%. The largest losses were in palladium, down 6.0%, and copper, off 2.5%.

The US Dollar was the strongest currency, gaining 2.2%. The Chinese Yuan was the weakest, adding just 0.2%. Short term notes tracked USD cash, adding 2.2%, but long term bonds did better, rising 2.7%.

Ether rose to a high of 63.5 grams on Thursday, then pulled back to close at 60.2 grams, up 8.2%. Bitcoin followed a similar pattern, topping out at 850.3 grams, but closing at 837.3 grams, up 7.6%. The broader 30 crypto index added 5.0%.

Gold stocks pulled back 0.2%, but all other stock indexes moved higher. The Japanese Nikkei took the lead, rising 2.5%, followed by the Dow Industrials, which gained 2.1%. The Euro STOXX lagged its peers, adding 1.0%.

Commodities were very mixed, with crude oil rising 5.5% while palladium dropped 6.0%. The entire metals complex was lower; copper fell 2.5% and silver slid 2.1%.

Year over year, cryptos remain the star performers, especially Ethereum, which has risen 938%. Gold stocks are the worst performing asset, falling 25%. Outside of the crypto complex, crude oil and coffee, up 93.7% and 74.2% respectively, are the strongest assets. Silver and palladium are the only other assets in the red, with declines of 5.1% and 4.8% for the year.

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Weekly Update 10 Sep 2021

Cryptocurrencies fell, while national currencies and bonds moved higher; stocks and commodities were mixed. Ether, down 17.2%, and the 30 Crypto Index, off 10.4%, had the largest losses. The Nikkei index, up 5.8%, and copper, up 4.4%, made the largest gains.

The US Dollar and the Japanese Yen, up 1.6% and 1.5% respectively, were the strongest national currencies. The Canadian Dollar lagged behind, rising 0.7%. Short term bonds tracked USD cash, gaining 1.6%, but long term bonds did a bit better, adding 1.8%.

Cryptocurrencies had a rough week, especially Ethereum, which fell 17.2%. The broader 30 crypto index dropped 10.4%, and Bitcoin declined 8.8%.

The Nikkei rose 5.8%, making it the best performing asset overall. Gold stocks fell 4.2%, and the Dow Industrials declined 0.6%. The S&P 500 and the Euro STOXX were little changed.

The largest loss of the week was in palladium, which fell 7.2%. Platinum was also down, but only 1.3%. Copper was the best performing commodity, rising 4.4%. Crude oil gained 2.3% and silver rose 1.5%.

Year over year, cryptocurrencies continue to be the best performing asset class, particularly Ethereum, which is up 892.5%. Outside of crypto, crude oil and copper are the strongest assets, up 104.8% and 62.7% respectively. The S&P 500, up 46.3%, is the best performing stock index. The only assets not in the green are gold stocks, down 23.3%, and silver, off 2.9%.

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Weekly Update 3 Sep 2021

Cryptocurrencies were in the green while stocks and commodities were mixed but mostly lower; national currencies and bonds were in the red. Ether, up 18.8%, and the CCI30, up 6.1%, made the largest gains. Cotton, down 2.2%, and long term bonds, off 2.1%, had the largest losses.

The best performing national currency was the Chinese Yuan, off 0.3%. The US and Canadian Dollars fared the worst, falling 1.4%. Short term bonds tracked USD cash, but long term bonds underperformed, dropping 2.1%.

Ethereum started the week with some mild gains, but on Wednesday shot higher and held those gains to close at 67.2 grams, up 24.5%. Bitcoin spent most of the week underwater but recovered to close at 853.2 grams, up 0.6%. The broader CCi30 index finished in between these extremes, up 6.1%.

The Nikkei 225 was by far the strongest stock market index, gaining 4.2%. Gold stocks closed unchanged, and the Dow Industrials had the largest losses, falling 1.6%. The S&P 500 finished off 0.8%.

Silver rose 0.5% and platinum added 0.1%, but all other commodities were in the red. Cotton, down 2.2%, and palladium, off 2.0%, were the weakest performers. Copper closed down 1.3% and crude oil declined 0.6%.

Year over year, the only assets in the red were gold stocks, down 20.2%, silver, down 4.9%, and long term bonds, off 3.6%. Cryptos made the stongest gains, particularly Ethereum, which is up 856.1%. Outside of cryptos, crude oil has gained the most, rising 78.2%. The S&P 500 is the best performing equity index, adding 39.7%.

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Weekly Update 27 Aug 2021

Commodities were all in the green and equites and national currencies were mixed; cryptocurrencies and bonds were in the red. Crude oil, up 9.4%, and coffee, up 5.2%, made the largest gains. Long term bonds, down 1.8%, and Bitcoin, off 1.6%, had the largest losses.

The Canadian Dollar was the only rising national currency, gaining 0.8%. The Japanese Yen and US Dollar fell the most, dropping 1.2% and 1.1% respectively. Long term bonds fell 1.8% and short term notes fell 1.0%.

Cryptocurrencies fell, led by Bitcoin and Ethereum, off 1.6% each. The broader index of 30 cryptos was off 1.4%. Some of the smaller cryptos did well, however; for example, privacy focused Monero gained 10.5%.

The Dow Industrials declined 0.1%, but all other equity indexes rose. Gold stocks gained 4.9%, and the Nikkei added 1.1%.

Commodities were all higher, led by crude oil, up 9.4%, and coffee, up 5.2%. Platinum and silver lagged, gaining 0.4% and 0.6% respectively.

Year over year, cryptos continue to dominate. Ethereum was the best performer, rising 809.5%. Commodities were also power houses; crude oil rose 70.8% and coffee gained 65.7%. Among the equities, the S&P 500 was strongest, adding 38.4%. Gold stocks fell 18.8%, and silver dropped 7.3%, the only assets in the red for the year.

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