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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