Macro Briefing: 29 December 2021

* US 7-day average for reported Covid-19 cases rises to record high
* Covid-19 cases are surging again but hospitalization rate is lower this time
* Omicron is a new risk factor for the economy
* Many states avoiding strict measures to manage Omicron spread
* US and Russia will hold security talks on tension over Ukraine
* Valuations on stocks in China look ‘very, very attractive,’ says UBS analyst
* Richmond Fed Mfg Index strengthened in December
* US home price 1yr-trend growth decelerated again through October: