Macro Briefing: 25 May 2021

* EU and US impose new sanctions on Belarus after forced landing of jet
* CNN’s Back-To-Normal Index shows US economy close to full recovery
* Vaccinated Americans remain muted force for powering economic rebound
* Amazon reportedly close to acquiring Hollywood studio MGM
* China’s currency rises to 3-year high against US dollar
* Is market’s inflation focus obscuring risk of flare-up in US-China tension?
* German economy fell more than expected in the first quarter
* Germany businesses are more optimistic in May about economic outlook
* US growth cooled in April after March surge via Chicago Fed Nat’l Activity Index: