Macro Briefing: 17 May 2021

* Israeli airstrikes on Gaza continue with no end in sight
* China’s economy grew at slower pace in April
* Global supply chains stretched to the limit as corporate demand surges
* Nations take action to counter global computer chip shortage
* Expected merger of WarnerMedia with Discovery would be media giant
* White House is warily monitoring inflation risk as potential threat to economy
* Corporate America expect Biden’s tax-the-rich plan will fail
* US stock market’s ‘fear gauge’, a.k.a. VIX Index, pulled back sharply on Friday: