Business News

Highest Level in 7 Years

The yield on the 10-year Treasury note hit its highest level since 2011 and the two-year yield hit its highest mark since 2008 on Tuesday. The 10-year hit 3.07% and the two-year yield hit a high of 2.59%. (AP)

The Commerce Department says retail sales rose 0.3% last month after jumping 0.8% in March. Retail sales have increased 4.7% from a year ago. Consumer spending, accounts for more than two-thirds of U.S. economic activity. In April, auto sales edged up 0.1%, receipts at service stations jumped 0.8% and sales at restaurants and bars fell 0.3%. (Reuters)

The average mortgage contract rate on the 30-year fixed ended Tuesday at 4.88% for the highest creditworthy borrowers and 5% for the average borrower, the highest level in seven years. (CNBC)

Macy's reported first quarter profits of 48 cents per share on revenue of $5.5 billion. Same-store sales increased 4.2%. Shares are up about 13% in early trading. (AP)

Yum Brands owned Pizza Hut will become the largest pizza chain in Latin America and the Caribbean, after signing a franchise agreement with Spain's Telepizza Group. (CNBC)

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.

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