The spot silver price fell below 69 dollars per ounce, with a daily decline of 1.74%.
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US private credit default rate rises to 6.3%, hitting a new high, while software industry default rate drops to 0.6%
According to Fitch's latest report, the default rate for US private credit, tracking 1,300 borrowers, rose to 6.3% by the end of August over the past 12 months, surpassing the previous record high of 6.1% in July. Default rates in the healthcare, industrial, and manufacturing sectors all reached 9.9%, while the technology software sector defied the trend and fell to 0.6%. Although concerns about AI disruption have put pressure on the software industry, they have not yet had a substantive impact on the sector's credit quality.
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