This week’s note reviews the latest COVID-19 numbers, the state of the scientific effort to counter the virus and a range of economic developments. It also evaluates whether the U.S. can be expected to lock down its economy as Europe has done, and how much economic damage any such action will inflict on the U.S. (and the same for Canada). Finally, the note ventures briefly into U.S. politics and Brexit.

Click here for the full report; RBC GAM MacroMemo.