The National Retail Federation says new data from the US Census Bureau shows shoppers continued to spend in April 2025 despite ongoing concerns over tariffs on imported goods.

Of interest, the US 30-year Treasury saw its yield top 5% for the first time since October of 2023 as the market demands a higher yield for higher risk. The US 10-year, which is significant for the US mortgage industry, also saw its yield rise 1.67% to 4.56%, which may increase market flows from equities to bonds.