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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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