Cryptocurrencies and commodites moved lower; bonds were in the green, and national currencies and stocks were mixed. The largest drops were all in commodities: coffee, down 10.7%, crude oil, down 9.6%, and copper, off 7.7%. The best performers were long term bonds, up 2.2%, and the Euro STOXX, which rose 1.2%.

The Euro, up 0.8%, and the US Dollar, up 0.4%, were the strongest national currencies; the Canadian Dollar, down 0.5%, was the weakest. Short term treasuries underperformed USD cash, adding just 0.2%, but long term bonds surged 2.2%.

After last week's shock over the FTX bankruptcies and its domino effects in the crypto space, this week was relatively tame. Ethereum dropped 5.4%, and Bitcoin gave up 1.5%.

European stocks rose 1.2%, and gold stocks fell 2.8%, the largest moves in equities. US markets were mixed, as the Dow Industrials gained 0.4% while the S&P 500 closed down 0.3%.

Commodities were all red. Worst were coffee, down 10.7% and crude oil, down 9.6%. Best were silver, down 1.4% and palladium, down 2.8%.

Looking back year over year, we have a sea of red with a few bright spots: crude oil is up 8.5%, the US Dollar is up 6.2%, and short term bonds have gained 1.3%. Worst losses are all in cryptos, as the broad CCi30 has fallen 71.8% and Ethereum is down 69.9%. Outside of crypto, the worst losses are in coffee, down 29.8% and long term treasury bonds, down 26.6%.

Going back five years, cryptos are the best performers: Ethereum is up 167.6% and Bitcoin is up 57.2%. The largest losses were in the Japanese Yen, down 41.2%, and long term bonds, down 36.4%. Over that time the US Dollar lost 26.7% of its value, and the S&P 500 gained 12.7%.

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Stocks fell, but all other asset classes were mixed. The largest drops were in the European STOXX, down 6.5%, crude oil, down 6.3%, and Ethereum, off 6.1%. The best performers were coffee and palladium, up 2.4% and 1.7% respectively, followed by the CCi30 crypto index, which rose 1.5%.

National currencies were mixed, with the USD leading the table on a gain of 1.3%, and the Euro underperforming its peers, falling 2.0%. But the big action occured outside of the table, as the British Pound collapsed 3.4% while the Russian Ruble soared 6.8%. Bonds undeperformed cash, as short term notes rose 0.7% and long term treasuries were little changed.

The Ethereum merge turned out to be a "buy the rumor, sell the news" event, sending ETH 6.1% lower. Bitcoin also dipped by 1.1%, but the broader CCi30 index rose 1.5%.

Stocks were not a happy place to keep capital this week. The best performing market was in Japan, where the Nikkei average dipped 0.5%. The worst losses were in the European STOXX, down 6.5%. Gold stocks also took a beating, as the HUI fell 4.5%. The S&P 500 gave up 3.4%.

Commodities markets contained some of the best and worst of the week's price action. Coffee, up 2.4%, and palladium, up 1.7%, were the best performing assets in the table. Silver also moved higher, gaining 1.3%. But all was not rosy in the metals, as copper fell 2.9% and platinum slid 0.8%. The largest commodity losses were in crude oil, down 6.3% and cotton, down 5.5%.

Year over year, all currencies except the USD are lower, as are all cryptos and all stock markets. The brightest spots are all in the commodities, where coffee is up 23.2%, crude oil is up 14.4%, and palladium is up 13.8%.

Looking back farther, to 5 years ago, all national currencies and bonds are significantly lower, cryptos are massively higher (on the order of 300%), and stocks and commodities are mixed. US equities are up, 16.3% for the S&P 500, but outside the US, markets are much lower, led by the Euro STOXX, down 40.2%. Commodities are very mixed, with an 80.6% gain in palladium set against a 26.4% loss in platinum, and an 11.8% drop in silver. Crude oil is up 22.4% while copper is down 9.2%.

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Equities, cryptocurrencies, and most commodities moved higher; bonds declined, and national currencies were mixed. The largest drops were in long term bonds, down 1.8%, and the US Dollar, off 1.1%. The best performers were ethereum, up 11.8% and cotton, up 11.4%. Coffee was in third place, rising 7.1%.

The Japanese Yen was the strongest national currency, gaining 0.2%, joined by the Chinese Yuan, which was little changed for the week. The US Dollar was weakest, falling 1.1%, followed by the Euro, off 0.3%. Short term notes did a bit better than cash, declining 1.0%, but long term bonds fell much more, closing down 1.8%.

Cryptos had a good week, led by ethereum, up 11.8% as a successful test was completed, paving the way for "The Merge" (transition from proof of work to proof of stake) next month. Bitcoin added 3.7%, and the broader CCi30 rose 5.2%.

Stock markets all moved higher, led by gold stocks, up 3.5%, and the S&P 500, up 2.2%. The Nikkei 225 and the Euro STOXX underperformed, but still rose 1.5% apiece.

Although silver was little changed, all other commodities rose significantly. Cotton was the leader, rising 11.4%, followed by coffee, up 7.1%. Palladium gained 6.7%, rounding out the top three. Weakest were silver (unchanged) and platinum, up 1.8%.

Year over year, only crude oil (up 30.0%), cotton (up 19.6%) and coffee (up 18.4%) are in the green; all other assets in the table are lower. Cryptos took the largest losses, as the CCi30 index fell 54.8%, and bitcoin dropped 46.4%. Outside of crypto, the Euro STOXX (down 24.1%) and long term bonds (down 21.8%) saw the largest declines. Among national currencies, the USD held up relatively well, falling just 2.5%, compared to the JPY (down 19.5%) and the EUR (down 14.8%).

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Cryptos moved up strongly, national currencies and bonds were mostly lower, and other asset classes were mixed, but mostly higher. ETH gained the most, rising 22.5%, follwed by the broader CCi30 crypto index, which closed up 10.8%. Outside of cryptocurrencies, the Nikkei index made the best showing, rising 4.3%. Crude oil, down 4.7%, and the HUI gold stock index, down 2.9%, were the week's worst performers.

The Japanese Yen was the only currency in the table to show a gain, barely, of 0.1%. The others were all in the red, led by the US Dollar, which fell 1.8%. Not in the table is the Russian Ruble, which topped the list of currencies I track, rising 3.0%. Treasuries outperformed USD cash, with short term notes falling 1.4%, and long term bonds rising 0.3%.

Cryptocurrencies continued their bear market rally, led higher by Ethereum, up 22.5%. Bitcoin lagged, but still turned in a 7.1% gain. Overall, the top 30 cryptos, as represented by the CCi30 index, rose 10.8%. At least part of the narrative behind the rally is excitement around the upcoming Ethereum "Merge", which will convert the chain from proof of work to proof of stake.

All major stock indexes were in the green, led by the Nikkei, which rose 4.3% and the Euro STOXX, which gained 2.3%. The only loser was gold stocks; they finished down 2.9%. The S&P 500 rose 0.7%, and the Dow added 0.1%.

Crude oil fell 4.7%, and coffee declined 0.3%, but all other commodities moved higher. Palladium and platinum led the way, closing up 4.3% and 1.8% respectively. Silver was little changed, up 0.1%.

Year over year, things aren't so rosy. Or maybe, too rosy… Stocks, bonds, and cryptos are all in the red, while national currencies and commodities are mixed. Crude oil and cotton are the biggest winners, rising 36.4% and 14.6% respectively. The largest losses are in cryptos, as the CCi30 fell 42.1% and Bitcoin dropped 27.2%.

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National currencies and bonds rose, cryptos and most stocks moved lower, and commodities were mixed. The biggest gains were in palladium and long bonds, which advanced 4.5% each. The worst losses were in crypto, as Ethereum dropped 12.3% and the broader CCi30 fell 10.5%. Outside of crypto, the hardest hit were silver, down 4.0% and gold stocks, down 3.1%.

All major currencies moved higher, led by the US Dollar and Japanese Yen, up 1.6% apiece. The Euro trailed, adding just 0.1%. Bonds outperformed cash, as the short term SHY rose 2.0% and the long term TLT gained 4.5%, one of the week's best performances.

Cryptos had a terrible week. Even Bitcoin, the strongest of the cryptos in the table, fell 7.8%. Ethereum was the weakest, dropping 12.3%. The broader CCi30 showed a loss of 10.5%.

The Dow Industrials managed a 0.3% gain, but all other equities in the table moved lower. Gold stocks fell the most, closing down 3.1%, followed by the Nikkei 225, which dropped 2.1%.

Commodities sent very mixed signals, as palladium rose 4.5% and silver fell 4.0%. Crude oil added 2.3% but copper dropped 1.7%.

Year over year, only three assets are in the green: coffee, up 44.8%, crude oil, up 42.9%, and cotton, up 19.6%. The largest losses are in cryptos, as the CCi30 has fallen 59.2% and Ethereum is down 54.3%. Outside of crypto, the worst performers are palladium, down 32.0% and Japan's Nikkei index, down 27.3%.

Happy Canada Day and happy Independence Day!

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A big red week! Every asset in the table moved lower except silver, which managed a 0.6% gain. The worst losses were in crypto, as ether plunged 35.2% and bitcoin fell 30.1%. Outside of crypto, the hardest hit were crude oil, down 9.8% and gold stocks, down 8.3%.

Among the national currencies, the Chinese Yuan, off 0.1%, and the USD, down 0.6%, were the strongest performers. Weakest were the Canadian Dollar, down 2.7%, and the Japanese Yen, down 1.4%. Treasuries fell more than USD cash, as short term notes declined 0.8% and long term bonds dropped 2.1%.

The largest crypto currencies were hardest hit, as Ethereum closed down 35.2%, and Bitcoin fell 30.1%. The CCi30 index dropped 25.1% as many smaller projects fell less than the majors.

Equity indexes were all in the red, led by the gold stocks, which fell 8.3%, and the Nikkei, which dropped 8.0%. The best performers were the Euro STOXX, down 5.1%, and the Dow Industrials, down 5.4%.

Silver was the lone commodity (and lone asset) in the green, rising 0.6%. Coffee, down 1.2%, was next best. Crude oil fell 9.8%, and copper dropped 7.1%, earning them the title of the worst performing commodities.

Year over year, only three assets are in the green: cotton, up 64.6%, crude oil, up 49.0%, and coffee, up 47.0%. Everything else is lower, led by the cryptos. The CCi30 index fell 67.3%, and ether dropped 53.6%. Outside of crypto, the largest losses were in Palladium, down 33.2%, along with the Nikkei and Euro STOXX indexes, down 29.6% each. US stocks outperformed other equities, as the Dow fell "just" 14.6%, and the S&P 500 declined 15.9%.

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Bonds and cryptocurrencies fell, while other asset classes were mixed. The largest gains were in the S&P 500, up 5.6%, and coffee, up 5.3%. The worst losses were in Ethereum, which plunged 12.9%, and the CCi30 crypto index, which fell 7.8%.

The only rising national currency was the Euro, up 0.5%. The Chinese Yuan, down 1.1%, and the US Dollar, off 1.0%, were the worst performers. Treasuries outperformed USD cash, falling 0.7% for short terms and dropping 0.5% for long terms.

Ethereum started the week strong, rising to a high of 34.6 grams on Sunday, but accelerated lower to finish the week at 29.0 grams, down 12.9%. Bitcoin also rose early in the week, but faded to finish down 2.9%. Although the broader 30 crypto index fell 7.8%, some smaller coins, particularly in the privacy space, managed gains. For instance, Monero (XMR, not in table) rose 2.5%.

Stocks were mostly in the green, with only the Nikkei showing a loss, and that only 0.1%. The S&P 500 was the weeks strongest asset, gaining 5.6%. The Dow Industrials and the Euro STOXX each rose 5.2%. Gold stocks underperformed, adding just 0.6%.

Commodities were mixed; coffee made the biggest gains, rising 5.3%, while cotton had the largest losses, falling 2.9%. Metals were mixed, as palladium rose 1.0% and silver added 0.2%, but platinum fell 1.5% and copper retreated 0.2%.

Year over year, cryptocurrencies and bonds are in the red, while other asset classes are mixed but mostly lower. The biggest winners are all in the commodities: crude oil, up 75.8%, cotton, up 72.4%, and coffee, up 50.9%. The worst performers were the CCi30 crypto index, down 58.1%, and Ethereum, down 38.7%, followed by palladium, off 24.9%. Among equities, only the S&P 500 is in the green, up 1.1%. The Nikkei 225, down 17.3%, was the weakest stock index.

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Bonds rose, stocks and cryptocurrencies fell, and other asset classes were mixed. The largest gains were in cotton, up 11.0%, and crude oil, up 4.2%. The worst losses were in the CCi30 crypto index, down 7.0%, and gold mining stocks, down 4.4%.

The biggest currency anomaly this week was the Russian Ruble (not in table) which roared higher, gaining 11.0% on top of a 7.7% gain in the prior week. The RUB (230 micrograms) is now at its highest level since 11 Jan 2022, higher than it was before the invasion of the Ukraine began. The US Dollar topped our table of national currencies, rising 1.6%, followed by the Canadian Dollar, which gained 1.1%. The Euro was weakest, falling 0.5%. Bonds had a good week, with short term notes matching USD cash by moving 1.6% higher, though long term bonds underperformed, adding only 1.1%.

Bitcoin started the week strong, rising to a high of 664.1 grams on Monday, but faded to finish the week at 628.3 grams, down 1.3% (for reference, this is roughly in line with US stocks; falling more than the Dow, but less than the S&P 500). Altcoins generally underperformed; the CCi30 index fell 7.0%. There were bright spots, however. Equilibria (XEQ, not in table) is a privacy-oriented oracle, used to feed off-chain and cross chain data to smart contracts. XEQ is on a tear, rising 78% from 5.1 mg to 9.1 mg this week.

Every stock index in our table moved lower, led by gold mining stocks, down 4.4%, and the Euro STOXX, down 2.5%. The Japanese Nikkei was the best performer, sliding just 0.2%. The S&P 500 closed down 1.7%, while the Dow did a bit better, closing off 0.9%.

Commodities were mixed, but the sector had the largest gains of any assets this week: cotton rose 11.0%, and crude oil gained 4.2%. The metals were mixed, with copper down 2.7% and silver off 2.2%, but platinum up 0.7%.

Year over year, commodities are mixed, but all other asset classes are in the red. The assets in the green were: cotton, up 62.3%, crude oil, up 48.5%, and coffee, up 43.5%. Ethereum was the next best, giving up 4.9%, and outperforming even the US Dollar, which was off 7.8%. But the other cryptos topped the loser list, as the CCi30 index fell 51.3% and Bitcoin dropped 33.5%. Other large declines were in the precious metals, as platinum fell 29.3% and palladium dropped 28.1%, and in non-US stocks, as the Nikkei retreated 28.3% and the Euro STOXX closed down 26.0%.

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Most assets were in the red this week, especially the cryptocurrencies, where the broad CCi30 fell 10.9% and bitcoin dropped 9.2%. The brightest spots were in commodities, as palladium rose 4.5% and coffee added 0.8%. Outside of crypto, the largest losses were in long term bonds, as TLT fell 5.9%.

The Chinese Yuan (up 0.1%) was the best performing national currency; all others moved lower. The Euro (down 2.1%) was the weakest. US Dollar cash declined 0.6%. Short term notes fell 0.7%, while long term bonds gave up all of the prior week's gains and then some, falling 5.9%.

Cryptos gave up most of their gains from the prior week. The CCi30 index dropped 10.9%, the worst performance of any asset. Bitcoin followed, falling 9.2%. Ether did slightly better, retreating 8.0%.

Equities were all lower, but gold mining stocks continued to outperformed the major equity indexes, giving up just 0.3%. The largest losses were in Europe, where the STOXX fell 4.4%, and in Japan where the Nikkei dropped 4.3%. The S&P 500 closed down 1.9%.

Commodities were mixed. In the metals, palladium rose 4.5% while platinum fell 2.9%. Cotton fell 2.2%, but coffee rose 0.8%. Crude retreated 1.6%, and silver declined 0.9%.

Year over year, the big gains are in coffee, up 63.8%, and crude oil, up 49.1%. Cotton and Ethereum have also done well, rising 47.1% and 45.0% respectively. The largest losses are in Bitcoin, down 34.4%, the CCi30, down 34.0%, and platinum, down 28.1%. The Japanese and European stock markets are also big losers, falling 27.9% and 21.1% respectively.

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Commodities were mixed, stocks were mixed but mostly higher, and cryptocurrencies, national currencies and bonds were all on the rise. Ethereum gained the most, advancing 12.4%. The CCi30 crypto index was in second place, rising 10.9%. Outside of cryptos, coffee and long term bonds were the best performers. Crude oil fell the most, dropping 11.7%, followed by palladium, down 5.8%, and silver, off 2.4%.

The Euro (up 1.7%) was the best performing national currency. The Japanese Yen (up 0.5%) was the weakest. US Dollar cash rose 1.3%. Short term notes gained 1.0%, while long term bonds turned in one of the week's strongest performances, rising 4.2%.

Cryptos crushed it this week. Ether rose to 55.4 grams on Tuesday, then pulled back to 52.6 grams on Thursday before sprinting to close the week at 55.6 grams, up 12.4%. The broader index of 30 cryptos gained 10.9%. Bitcoin trailed, but still added a respectable 5.7%.

Gold mining stocks once again outperformed the major equity indexes, rising 3.4%. In second place was the Euro STOXX, up 2.8%. The Nikkei 225 index was the only decliner, falling 1.2%. The S&P 500 added 1.3%.

Crude oil and precious metals fell, while copper and soft goods moved higher. Crude dropped 11.7%, the weeks largest loss. Palladium was in second place, down 5.8%, followed by silver, off 2.4%. Coffee was the best performing commodity, rising 4.3%.

Year over year, the big gains are in coffee, up 68.0%, and Ethereum, up 57.6%. Cotton and crude oil have also done well, rising 54.4% and 44.5% respectively. The largest losses are in Bitcoin, down 29.9%, and platinum, down 25.8%. The Japanese stock market and the Yen itself were also big losers, falling 24.2% and 19.5% respectively.

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