Macro Briefing: 10 May 2022

* Biden urges Congress to quickly pass new aid package for Ukraine
* Biden worried that Putin doesn’t have exit strategy for Ukraine war
* Germany prepares for sudden end to Russian gas supplies
* Rough year for government retirement funds set to get worse
* Emerging market currencies suffer from rising rates and slower growth
* Consumer inflation outlook falls in April from record high in previous month
* US housing market may be a bubble, or close to it
* Bitcoin trades below $30,000 for first time since last July
* S&P 500 Index’s drawdown sinks to -16.8% — deepest in two years: