Macro Briefing: 31 March 2022

* Russian military continues to attack Ukraine after promising to scale back
* Biden may release 1 million barrels a day from Strategic Petroleum Reserve
* Export boom for US natural-gas is pinching supply and lifting prices
* Will rising mortgage rates cool the red-hot rise in US home prices?
* Economists see signs of a US housing bubble
* Rising wages could complicate progress on cooling US inflation
* China manufacturing and services activity contract in March via survey data
* Germany and Austria take steps toward rationing gas
* US private payrolls continue increasing a solid pace in March, ADP reports
* US Q4 GDP growth revised down slightly to still-strong +6.9%
* 2yr/10yr US Treasury curve slips again, close to inverting at +4 basis points: