This will be the final #MacroMemo of the year. As such, it seems appropriate to provide a brief encapsulation of the year that was, alongside a succinct preview of 2021. We also offer the usual analysis of the latest virus numbers and vaccine developments, and review the economic situation. Within this, we present fresh economic forecasts and highlight key downside risks. The report also provides an update on the latest Brexit and U.S. fiscal stimulus thinking.

Click here for the full report; RBC GAM MacroMemo.