Macro Briefing: 6 April 2022

* Russian military pounds Ukrainian cities as the West prepares more sanctions
* Treasury Sec. Yellen set to warn of economic blowback from Ukraine war
* Can Germany end its dependency on Russian gas? It’ll try, but it won’t be easy
* Fed’s Brainard says central bank may soon begin ‘rapid’ balance-sheet reduction
* 30-year fixed mortgage above 5% for first time since 2011
* China services sector activity fell at sharp pace in March, PMI survey shows
* US Q1 GDP growth nowcast remains weak via Atlanta Fed’s GDPNow model
* US services sector growth picked up in March via ISM Services Index: