US: Reopening means retail sales and industry data to surge, as well as inflation to push higher With the US economy opening up more and more each day the outlook for activity and job creation continues to brighten. At the same time there will be long-term scarring on the economy, resulting in supply constraints given thousands of businesses have closed and skills have been lost. In an environment of stimulus fuelled demand, this risks pushing inflation higher and allowing it to stay more elevated for longer than we have seen in previous cycles. In terms of the coming week, we expect to see some very strong retail ... (full story)