The wide spread between the US 10-year Treasury yield and CapitalSpectator.com’s lesser fair-value estimate continues to narrow, albeit slowly. As outlined on these pages in recent months, the model continues to project a lower market rate ahead. Timing is unknown, but today’s revised analytics reaffirm the forecast. Continue reading →

* Yellen doubts Biden administration can avoid default without Congress
* Migrant influx to US from Mexico surges as pandemic-era law ends
* China and US debt-ceiling risk expected to dominate G7 finance meeting
* Republican-led states move to falls to near-zero pace, slowest in two years
* SoftBank suffers record $32 billion loss for its Vision Fund
* US consumer inflation ticked down to 4.9% annual rate in April:

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