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%.

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!

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%.

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.

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%.

National currencies, cryptocurrencies, and bonds fell; stocks were mixed but mostly lower, and commodities were mixed but mostly higher. War in Ukraine and the resulting sanctions against Russia drove the Ruble (not in table) down 34.4% and the Euro STOXX50 down 15.7%. Gold mining stocks, metals, and crude oil made gains. Palladium and crude oil (major exports from Russia) rose 23.8% and 22.4% respectively.

All the national currencies moved lower. The Ruble, hit hard by sanctions, dropped 34.4%, followed by the Euro, down 5.9%. The Chinese Yuan fared best, giving up 1.0%. The US Dollar fell 3.1%; treasury notes fell 2.9%, and long term bonds pulled back 0.6%.

Cryptos were also in the red, with Ether the weakest, falling 8.3%. Bitcoin started the week strongly, climbing 10.9% before retreating to close down 3.3%. A few cryptos, like the privacy coin Monero (up 0.8%, not in table) managed small gains.

Gold mining stocks rose 5.2%, but the major stock indexes fell. The Euro STOXX dropped 15.7%, and the DOW Industrials fell 4.4%. The Nikkei 225 and the S&P 500 each declined 4.3%.

Commodities were the week's brightest spot (if you were long!). Palladium rose 23.8% and crude oil gained 22.4%. Russia is a major supplier of both, and sanctions may reduce their supply. Copper also gained, rising 6.8%. Soft goods did not fare as well: coffee was down 9.5%, and cotton declined 4.6%.

Year over year, the best performers are crude oil, up 59.5%, and coffee, up 49.3%. Ether is in third place, with a gain of 46.1%. The biggest losses are in botcoin, down 29.1%, the Nikkei 225 stock index, down 25.9%, and the Euro STOXX, down 22.4%.