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is it possible to set configuration values in the global `Pulumi.yaml` file and override the values if needed in the `Pulumi.{stack}.yaml`?

There isn't a notion of "default configuration" in the `Pulumi.yaml` currently.  Instead, you just put the defaults in code:

```
const config = new pulumi.Config();
const myconfigvalue = config.get("myconfigvalue") || "helloworld";
```

it is something that could make it's way into pulumi? Seems it would make sense to have project-wide configurations.

&gt; project-wide configurations

Note that the code above does accomplish "project-wide configurations".  Just like all the other default behaviour of the project is defined in the code.

That said, there is a documentation benefit to specifiying what configuration (from outside the code) is allowed, and what defaults will be used in case that configuration is not provided.  We're tracking this generally in <https://github.com/pulumi/pulumi/issues/1052>.

that and you wouldn't have to track configuration in code and/or yaml files + you could make use of the configuration secrets.

Yes - "default secrets" is indeed an important use case for this which isn't really possible today.