By Charlie Zhu and Helen Sun, Bloomberg Markets Live reporters and strategists

Three things we learned last week:

1. China’s bond rally seems unstoppable amid a shortage of quality assets for investments. From government bonds to corporate debentures, traders keep hunting for yields in all maturities.

2. Market speculation about a devaluation of the yuan emerged. To investors onshore, this is an unlikely scenario given the authorities’ emphasis on maintaining stability, but some offshore traders see signs that the pressure is building.

3. The US decision on TikTok may bring headwinds to stabilizing relations between Beijing and Washington. President Joe Biden has signed a bill forcing TikTok to find a new owner within a year or face a ban. The move, designed to cut off China’s access to the video app used by 170 million Americans, raised concerns that US firms with large exposure to China’s market, including Apple Inc. and Tesla Inc., may be retaliation targets.