Consumer confidence is at its highest level since 2000. The Consumer Confidence Index reached 138.4 according to the Conference Board.
The 10-year Treasury yield rose for a sixth straight day yesterday, its longest streak of gains since May, to 3.10%. Investors around the world have pivoted back into risky assets recently, boosting the MSCI All-Country World Index to its second straight weekly gain last week (and fourth in five weeks). The 10-year yield's resilience is especially impressive given it's trading a few basis points away from a 7-year high. (LPL)
Home prices continued to rise at a slower pace in July. Prices have been increasing at a slower rate since April. The S&P CoreLogic Case-Shiller national home price index reported a 6% annual gain in July, down from 6.2% in the previous month.
Inspire Brands is buying drive-in fast-food chain Sonic for $2.3 billion in cash including assumption of debt. Inspire already owns more than 4,700 Arby's, Buffalo Wild Wings and Rusty Taco restaurants. Arby's purchased Buffalo Wild Wings in November 2017. Sonic will become a privately-held subsidiary of Inspire Brands and will continue to operate as an independent brand. (CNBC)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.