Weekly Update 25 Mar 2022

Cryptocurrencies rallied, bonds and most national currencies fell, while stocks and commodities were mixed. Crude oil gained the most, rising 7.8%. The CCi30 crypto index was in second place, advancing 6.7%, and cotton was in third, adding 6.1%. Long bonds fell the most, dropping 4.5%, followed by the Japanese Yen, down 3.2%, and platinum, off 3.1%.

The Canadian Dollar (unchanged) was the best performing national currency. The Japanese Yen (down 3.2%) was the weakest. US Dollar cash, off 0.9%, outperformed its bonds; short term notes closed down 1.5%, and long term bonds dropped 4.5%.

The 30 crypto CCi30 index rose 6.7%, and Bitcoin gained 5.1%. Ether trailed, but still added a respectable 4.5%. Some smaller cryptos did much better; for instance, DASH gained 26.7%.

Gold mining stocks outperformed the major equity indexes, rising 2.5%. The Nikkei claimed second place with a gain of 1.6%. The Euro STOXX fell the most, giving up 2.4%. The Dow Industrials declined 0.6%, while the S&P 500 rose 0.9%.

In the commodity space, crude oil and cotton made substantial gains, rising 7.8% and 6.1% respectively. Metals were mostly lower, as platinum fell 3.1% and palladium declined 2.4%. Copper was 1.8% lower, but the exception was silver, which closed 0.6% higher.

Year over year, the big gains are in crude oil, up 72.9%, and Ethereum, up 72.7%. Coffee and cotton have also done well, rising 55.8% and 54.1% respectively. The largest losses are in Bitcoin, down 23.7%, and platinum, down 23.4%. The Japanese stock market and the Yen itself were also big losers, falling 22.1% and 20.4% respectively.