Weekly Update 1 Oct 2021

Stocks and bonds fell, cryptocurrencies rose, and national currencies and commodities were mixed. Ether, up 12.2%, and Bitcoin, up 11.7%, made the largest gains. The largest losses were in the Nikkei, down 5.4%, the Euro STOXX, down 4.1%, and silver, off 3.1%.

The Chinese Yuan was the only rising national currency, gaining 0.3%. The Euro took the worst beating, falling 1.6%. The US Dollar dropped 0.6%; short term treasuries outperformed cash, falling 0.5%, but long term bonds did much worse, retreating 1.6%.

Cryptocurrencies were all in the green, led by Ether, which rose 12.2%. Bitcoin did nearly as well, moving up 11.7%, while the broader 30 crypto index added 9.4%.

Equity markets all moved lower. The Japanese Nikkei index took the largest hit, falling 5.4%, followed by the European STOXX, which dropped 4.1%. Gold stocks outperformed, giving up 1.5%. In the US, the Dow declined 1.9% while the S&P 500 fell 2.8%.

Commodities were mixed, with metals down and soft goods and energy up. Cotton rose 8.3% and coffee added 4.4%, while silver fell 3.1% and copper lost 2.8%. Crude oil closed up 2.0%.

Year over year, most assets are in the green. The exceptions are gold stocks, down 24.9%, palladium, down 11.4%, and long term treasuries, off 2.3%. Cryptos are still the best performers, as ether has risen 886.6% and the broad 30 crypto index is up 449.6%. Outside of crypto, crude oil, up 112.1%, and coffee, up 106.3% are the largest winners. The S&P 500 is the best performiong stock index, gaining 39.5%.

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