Amazon is considering opening 3,000 of its cashierless stores by 2021 according to Bloomberg. It currently has three locations — known as Amazon Go — open in Seattle. It just opened a new location in Chicago.
Higher risk appetite has boosted longer-term yields as investors pivot to stocks from government bonds (leading to lower Treasury prices and higher yields). The 10-year yield has closed above 3% for three straight days for just the second time since July 2011. The 10-year yield is also close to crossing its seven-year closing high. (LPL)
USA Today reported, “Americans’ incomes are rising, and a declining share of households are mired in poverty” in “a sign that the healthy economy is lifting Americans across the financial spectrum.” Median US household income rose 1.8 percent to an all-time high of $61,372, according to the Census Bureau.
The Organization for Economic Cooperation and Development lowered its global growth forecast to 3.7% through the end of 2019, down from its March projection of 3.9%. The OECD highlighted increasing downside risks to the global economy, including narrowing growth in major global economies and higher uncertainty around monetary policy normalization and trade restrictions. (LPL)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.