Macro Briefing: 21 May 2021

* Cease-fire between Israel and Hamas puts 11-day war on hold
* US proposes minimum 15% global tax on multinational firms
* US Treasury wants crypto transfers over $10k reported to IRS
* Eurozone Composite PMI (a GDP proxy) rises to 39-month high in May
* UK private-sector growth in May jumps to fastest pace in two decades-plus
* Japan slips back into economic contraction in May via PMI survey data
* US Leading Economic Index rose in April, surpassing pre-pandemic high
* Philly Fed Mfg Index: growth cooled in May but remains strong
* US jobless claims continue falling, dropping to new pandemic low: