Macro Briefing: 6 October 2021

* US recession looms if Congress doesn’t raise debt ceiling, warns Treasury Sec.
* Biden reluctantly agrees to downsize Democrats’ ambitious budget proposal
* Taiwan-China tensions at ‘worst in 40 years,’ says Taiwan’s defence minister
* Rebounding imports drive US trade deficit to new record in August
* New Zealand raises interest rates — first hike in seven years
* German factory orders plunged in August
* Global economic growth ticked up in September via PMI survey data
* US business growth posted softest growth in 9 months via Sep survey data
* Healthcare was fastest-growing US sector (again) in September via survey data
* ISM Services Index continued to indicate strong growth for sector in September:

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