The US 10-year Treasury yield continues to trade well above a ‘fair value’ estimate, based on the average of three models maintained by CapitalSpectator.com. The market premium continues to suggest that the benchmark rate’s upside potential is constrained, but at the same time recent history suggests a relatively quick decline toward fair value still faces long odds, arguably due to behavioral and other factors.
Daily Archives: March 13, 2024
Macro Briefing: 13 March 2024
* It’s official: Biden and Trump secure delegates for November rematch
* US stock market (S&P 500) hits new record high despite stick inflation data
* House of Representatives will vote on Tik Tok ban today
* Higher-for-longer world for rates may be likely, but perhaps that’s OK
* Sticky inflation data take a bite out of bond and real estate ETFs
* Consumer spending in US rebounded in February via credit card data
* US consumer inflation posts mixed results for February:
