Macro Briefing: 11 August 2021

* Senate narrowly passes budget for $3.5 trillion spending plan
* N. Korea warns of ‘crisis’ over US-S. Korea military exercises
* Taliban take control of another provincial capital in northern Afghanistan
* Minimal impact on global economy so far from Delta variant of coronavirus
* Tropical Storm Fred formed Tuesday night with US in its path
* US productivity slowed in Q2; labor costs weaker than previously expected
* US small business sentiment fell in July as labor shortages persist:

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