Macro Briefing: 14 October 2021

* Gas shortage expected to force power plants to switch to oil
* US home heating costs projected to rise sharply this winter, federal gov’t advises
* Fed minutes: ‘gradual tapering process’ could start as early as mid-November
* Flatter 30yr-5yr Treasury yield curve suggests recession risk is rising
* Foreclosures surging as Covid mortgage bailouts expire
* China’s factory-gate prices soared to a near-26-year high in September
* Chinese developers shut out of global debt markets after Evergrande crisis
* Turkish currency at record low after president fires central bankers
* US headline consumer inflation ticked up to 5.4% annual rate in September: