diff --git a/CHANGELOG.md b/CHANGELOG.md
index 72394c8c9cb..c2ba27d120b 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -14,6 +14,7 @@
 - Include vars provided to the cli method when running the actual method ([#2092](https://github.com/fishtown-analytics/dbt/issues/2092), [#2104](https://github.com/fishtown-analytics/dbt/pull/2104))
 - Improved error messages with malformed packages.yml ([#2017](https://github.com/fishtown-analytics/dbt/issues/2017), [#2078](https://github.com/fishtown-analytics/dbt/pull/2078))
 - Fix an issue where dbt rendered source test args, fix issue where dbt ran an extra compile pass over the wrapped SQL. ([#2114](https://github.com/fishtown-analytics/dbt/issues/2114), [#2150](https://github.com/fishtown-analytics/dbt/pull/2150))
+- Set more upper bounds for jinja2,requests, and idna dependencies, upgrade snowflake-connector-python ([#2147](https://github.com/fishtown-analytics/dbt/issues/2147), [#2151](https://github.com/fishtown-analytics/dbt/pull/2151))
 
 Contributors:
  - [@bubbomb](https://github.com/bubbomb) ([#2080](https://github.com/fishtown-analytics/dbt/pull/2080))
diff --git a/core/dbt/clients/jinja.py b/core/dbt/clients/jinja.py
index 0f1b3e5c684..39feb17104d 100644
--- a/core/dbt/clients/jinja.py
+++ b/core/dbt/clients/jinja.py
@@ -9,7 +9,6 @@
 )
 
 import jinja2
-import jinja2._compat
 import jinja2.ext
 import jinja2.nodes
 import jinja2.parser
@@ -47,8 +46,6 @@ def _linecache_inject(source, write):
         rnd = codecs.encode(os.urandom(12), 'hex')  # type: ignore
         filename = rnd.decode('ascii')
 
-    # encode, though I don't think this matters
-    filename = jinja2._compat.encode_filename(filename)
     # put ourselves in the cache
     cache_entry = (
         len(source),
@@ -79,10 +76,7 @@ def parse_macro(self):
 
 class MacroFuzzEnvironment(jinja2.sandbox.SandboxedEnvironment):
     def _parse(self, source, name, filename):
-        return MacroFuzzParser(
-            self, source, name,
-            jinja2._compat.encode_filename(filename)
-        ).parse()
+        return MacroFuzzParser(self, source, name, filename).parse()
 
     def _compile(self, source, filename):
         """Override jinja's compilation to stash the rendered source inside
diff --git a/core/setup.py b/core/setup.py
index 47664e834f7..e3215979b3f 100644
--- a/core/setup.py
+++ b/core/setup.py
@@ -53,12 +53,14 @@ def read(fname):
         'scripts/dbt',
     ],
     install_requires=[
-        'Jinja2>=2.10',
+        'Jinja2>=2.10,<3',
         'PyYAML>=3.11',
         'sqlparse>=0.2.3,<0.4',
         'networkx>=2.3,<3',
         'minimal-snowplow-tracker==0.0.2',
-        'requests>=2.18.0,<3',
+        # match snowflake-connector-python
+        'requests>=2.18.0,<2.23.0',
+        'idna<2.9',
         'colorama>=0.3.9,<0.5',
         'agate>=1.6,<2',
         'isodate>=0.6,<0.7',
diff --git a/plugins/snowflake/setup.py b/plugins/snowflake/setup.py
index 66c73cb1ce0..f17ec10aba6 100644
--- a/plugins/snowflake/setup.py
+++ b/plugins/snowflake/setup.py
@@ -40,7 +40,7 @@
     },
     install_requires=[
         'dbt-core=={}'.format(package_version),
-        'snowflake-connector-python==2.2.0',
+        'snowflake-connector-python==2.2.1',
         'azure-common<2.0.0',
         'azure-storage-blob<12.0.0',
         'urllib3>=1.20,<1.26.0',