The market continues to price the US 10-year Treasury yield at a relatively wide spread over its “fair value”, based on the average estimate of three models assembled by CapitalSpectator.com for May 2023.
Daily Archives: June 14, 2023
Macro Briefing: 14 June 2023
* Federal Reserve expected to skip rate hike in today’s policy announcement
* Rising stock market implies monetary policy isn’t tight enough to tame inflation
* US economy may be “slipping into an expansion”, says fund manager Tom Lee
* Decoupling from China would be “disastrous”, says Treasury Sec. Yellen
* Global oil demand to peak around 2028 as energy transition unfolds, IEA says
* Eurozone industrial output rebounds in April but outlook remains cautious
* UK economy bounced back in April, expanding 0.2%
* Small business sentiment ticks up in May, but remains near multi-year low
* US consumer inflation eases to 4% annual pace in May–lowest in over 2 years:
