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This week's highlights Commodities dominated the week with spikes in energy and precious metal prices. Tensions continued with Russia and Ukraine which saw the west apply additional economic sanctions. Global equities retreated as investors reallocated to risk-off assets such as bonds and gold. ETFS Hydrogen ETF (HGEN) was the best performer during the week. HGEN profited from higher fossil fuel prices, reducing the marginal costs for renewable energy. ETFS Ultra Short Nasdaq 100 Hedge Fund (SNAS) was another top performer due to the Nasdaq tumbling further. The index is down over 20% since its November 2020 highs. iShares China Large-Cap ETF (IZZ) was the poorest performing ETF during the week. Fed tightening, geopolitics, higher commodity prices and a resurgence of Covid-19 all contributed to a negative outlook that saw outflows from the region. Precious metals continued to perform positively on the back of supply constraints and off-risk allocation. Russia is one of the largest producers of Palladium. As a result, ETFS Physical Palladium (ETPMPD) was up 5.8% during the week. ...
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Powered by 21Shares Market Outlook It’s been a hard week for the markets as the Russian invasion of Ukraine prepares for its third week, killing at least 474 civilians. Other macroeconomic triggers include the Federal Reserve’s infamous interest rate hike to curb inflation which is at its 40-year-high now. The hike is expected to float at 0.25%; a decision is scheduled to be made on March 16. Another related trigger that’s been affecting the markets is the Consumer Price Index which will also be affected by next week’s interest rate hike, which will essentially track how much consumers will be impacted in terms of loans, investments, savings, job prospects, and prices for goods and services. In consequence, Bitcoin is down by 6.4%, Ethereum is down by 8.5%, equity 3.5% over the past week. Meanwhile, oil and wheat have surged historically as the breadbasket of the world continues to bleed. ...