In bonds, U.S. Treasury funds were the leaders on the safety trade and the latest Eurozone debt concerns. Banks are quietly preparing themselves for the return of the drachma, the Greek currency, following the recent elections in the financially troubled country, Reuters reported Friday.
The top three unleveraged ETFs for the week were U.S. Natural Gas, U.S. 12 Month Natural Gas Fund (NYSEArca: UNL) and SPDR Biotech (NYSEArca: XBI). They gained at least 5%.
The bottom three unleveraged ETFs were iPath Cotton ETN (NYSEArca: BAL), ETFS Physical Palladium (NYSEArca: PALL) and Market Vectors Junior Gold Miners ETF (NYSEArca: GDXJ). There were down 7% or more.
In next week’s economic reports, look for data on consumer prices, retail sales, business inventories, homebuilder confidence and housing starts.
Full disclosure: Tom Lydon’s clients own GLD.