Macro Memo May 18 - 31, 2021

May 19, 2021 | Brian Moore


What's in this article: Third wave in decline Variant of concern Spiking inflation Commodity supercycle? U.S. recovery returns to pre-pandemic peak North American housing affordability

RBC GAM MacroMemo May 18-31, 2021

We would argue that the latest developments have skewed more negatively than positively. While the economic recovery appears to be continuing and many countries report declining infections, U.S. inflation has just jumped to a worrying degree and one particular subtype of the virus variant in India is quite concerning.


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