Stock market trading was relatively quiet last week, with the USD Spot Index rising for the 8th consecutive week 👀
Trading was relatively quiet last week, with the U.S. dollar spot index rising for an eighth straight week, its longest winning streak since 2005, largely due to record weakness in the offshore yuan in the absence of significant intervention from the People's Bank of China, coupled with U.S. Yields moved higher amid a surge in corporate bond supply and a surge in oil prices near $90 a barrel.
The stock market was also relatively quiet, with Apple accounting for most of the trading volume. Its stock price fell by about 6% after China announced that it was seeking to expand the ban on the use of iPhones by the government and state-owned enterprises; in addition, the number of corporate defaults in the United States so far this year is The highest in more than three years, and although borrowing rates are at their highest level in 15 years, defaults are expected to peak around the middle of next year before falling.
