Weekly Update 4 Feb 2022

Cryptourrencies and stocks moved higher, but other asset classes were mixed. Ether was the best performer, rising 16.1%. The CCi30 crypto index was in second place, gaining 8.9%. The largest losses were in long term bonds, down 3.6%, and palladium, off 2.7%.

The Euro was the strongest national currency, closing up 1.5%. The Japanese Yen was the weakest, down 1.0%. The Chinese Yuan shows as unchanged because the Shanghai Gold Exchange has been closed for Lunar New Year. USD cash fell 0.9% but continued to outperform treasury notes and bonds, which fell 1.2% and 3.6% respectively.

Cryptocurrencies were the best performing asset class this week. Ether and bitcoin traded sideways until Friday, when they both jumped higher. Ether finished the week up 16.1% and bitcoin closed up 8.8%. The broader CCI30 closed 8.9% higher.

Equity markets were all higher, led by the Japanese Nikkei, up 1.7%, and gold mining stocks, up 1.6%. The Dow Industrials, up 0.1%, and the Euro STOXX, up 0.2%, were the weakest markets.

Commodities were mixed, with palladium falling 2.7%, but crude oil rising 5.3%. In the metals, silver was off 0.9%, while copper rose 3.1%. Coffee and cotton rose 1.6% and 1.5% respectively.

Year over year, coffee is now the best performing asset, up 92.9%, followed by Ethereum, up 82.7%. Crude oil is in third place, with a gain of 62.5%. Silver is the worst performing asset, falling 15.6%, followed by gold mining stocks, down 12.7%, and Japanese stocks, off 12.4%.