by Kurt Kallaus
While crude oil price movements have been a sensitive leading indicator to economic conditions and financial markets since late 2014, the British Pound collapse has now become a leading indicator for many commodities since the June 23rd UK referendum and THE metric to watch until this currency stabilizes. With the Pound depreciating rapidly we present several stages of political development to examine post-Brexit.
Stage 1 Ends
Stage one was shock and awe. When asked what economic effect the UK leaving the European Union (Brexit) would have, we opined that there would be an initial shock in the financial markets with more modest longer-term ramifications for the UK and the global economy.