This week’s note tackles falling COVID-19 cases; a wide range of economic developments; and the big three issues right now: the Chinese economy (a rising concern), supply chain issues (a serious but slightly diminishing concern) and inflation (a serious and steady level of concern). We then examine some long-term themes including the revival of business travel and the increasing clout of labour at the expense of capital.

Click here for the full report; RBC GAM MacroMemo.