A lower week for most assets, with stocks taking the brunt of the losses, especially gold stocks which fell 7.5%. The largest rises were in long term bonds, up 0.6%, and the Japanese Yen, which rose 0.5%. Cryptocurrencies had a quiet week, closing down, but about in line with most national currencies.
The Yen was the only rising currency (up 0.5%) and the Euro had the largest losses, falling 1.6%. USD cash fell 0.5%, while 1-3 year bonds fell 0.3% and 20+ year bonds rose 0.6%.
Bitcoin fell 0.3%, outperforming all national currencies except the Yen. Ethereum dropped 0.6%, beating the Euro and CNY, and on par with the CAD.
Stocks took the heavy damage this week, led by the HUI gold stocks, which dropped 7.5%. The Japanese Nikkei was off 5.5%, the second largest drop. The Dow Jones Industrials were the best performers, falling 3.4%.
Commodities were mixed, with Crude Oil falling 2.7% and coffee dropping 2.5%, while cotton rose 0.3% and palladium gained 0.2%. Platinum lost 1.7% and silver was little changed, rising 0.1%.
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