Weekly Update 24 Dec 2021 Merry Christmas!

Stocks and crypto currencies rallied, while bonds fell. National currencies and commodities were mixed, but mostly higher. The CCi30 crypto index rose the most, gaining 13.0%. Coffee and long term bonds were the biggest losers, falling 1.9% and 1.5% respectively.

The Euro was this week's strongest national currency, up 0.6%, followed by the Canadian Dollar, up 0.4%. The Japanese Yen, down 0.5%, was weakest. The USD rose 0.1%, but bonds underperformed cash; long term bonds dropped 1.5%, while short term notes declined 0.1%.

Cryptocurrencies were the week's best performers. The broad 30 crypto index gained 13.0%. Bitcoin rose 10.2%, but still remains below the 1 kg level, at 875.7 grams.

Stocks were all in the green, led by gold stocks, up 2.6%, and the Euro STOXX, up 2.4%. The Japanese Nikkei was the weakest index, up 0.8%. The Dow Industrials rose 1.7% while the S&P 500 added 2.3%.

The only declining commodity was coffee, down 1.9%. Palladium was the best performer, rising 6.4% and closing back above parity with gold at 32.6 grams. Crude oil was the next strongest, rising 4.3%. Platinum also was strong, gaining 4.0%. Silver was little changed, up 0.2% at 0.391 grams per ounce.

Year over year, cryptocurrencies are still outperforming all other assets, with Ether up 620% and the 30 crypto index up 249%. Outside of crypto, coffee, up 90.7%, and crude oil, up 58.9%, are the best performers. Palladium has the worst track record, losing 15.7% of it's value, followed by gold stocks, which are down 11.1%. Next week we will look more in depth at the overall results from 2021.

Happy Holidays!

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