Macro Briefing: 15 July 2021

* Fed Chairman Powell still expects US inflation surge to ease
* China GDP rose less than forecast in Q2 but still strong at +7.9%
* Covid infections rising sharply again in US and Latin America
* US Senate passes bill to ban import of products from China’s Xinjiang region
* Delta Airlines reports first profit since pandemic began
* Low and falling yields haven’t slowed the junk bond market this year
* US factory gate prices surged in June, beating expectations: