Macro Briefing: 13 December 2021

* G-7 countries warn Russia of ‘massive consequences’ if it attacks Ukraine
* US real interest rates go deeper into negative terrain as inflation rises
* Will 2020’s US borrowing binge create headwinds for Fed in fighting inflation?
* Share buybacks among S&P 500 companies hits record high for 2020
* The flattening yield curve suggests the economy’s tolerance for rate hikes is low
* US 10yr-2yr Treasury yield curve near 12mo low ahead of Fed meeting: