Macro Briefing: 25 January 2022

* US puts 8500 troops on alert for possible deployment to Eastern Europe
* Europe considers the risk of Russia cutting off gas supplies
* China breaches Taiwan airspace with dozens of warplanes
* Does China’s zero-Covid policy put it at disadvantage to the West
* Is the Fed’s current pivot to tighter policy too little too late?
* Chicago Fed Nat’l Activity Index: US growth slowed to 11-month low in December
* US economic growth slows to a crawl in January via PMI survey data: