Macro Briefing: 18 October 2021

* Dems will focus on finalizing Biden’s massive social spending bill this week
* Inflation poses rising political risk for Biden and Democrats
* World still reliant on fossil fuels amid surge in energy prices
* China’s GDP increased 4.9% year over year in Q3, less than expected
* Energy, real estate shocks are slowing China’s economy, with global implications
* Fallout in China’s property sector looks set to continue
* Investors expect central banks will keep rates too low for too long, survey shows
* NY Fed Mfg Index posts slightly softer growth in Oct amid supply-chain shortages
* US consumer sentiment fell in early Oct to second-lowest level in a decade:

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