WEEKLY BUSINESS ROUNDUP

Global Business Week: What is a SPAC & what are its advantages?

The state of Financial markets & Economies, Weekly Charts, Business Trends & Statistics

Rising bond yields have pushed the market lower off-late. Despite a Friday rebound, The major U.S averages finished last week with sharp losses following an earlier selloff sparked by surging yields. The yield on the 10-year U.S. Treasury backed off of recent highs of 1.6% to close the week at 1.39%. All three major indexes closed lower for the week, with the Nasdaq posting its worst week since October.

It was a wild week for the U.S equity markets. Fears of higher rates and inflation weighed on all three major averages, as the Dow Jones dropped 1.8%, the S&P 500 slid 2.5%, and the Nasdaq tumbled 4.9%. Investors continued to rotate from technology stocks to industrials, financials & energy stocks, given the improving economic outlook.

Against an average of its major counterparts, the Euro, British Pound, Australian Dollar, Canadian Dollar & Japanese Yen, the US Dollar experienced its best week in about 4 months. The safe-haven reserve currency capitalized on a couple of trends in financial markets that may leave it in a position to benefit from again in the next week — a…