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Weekly Economic Update: Post-Brexit

June 29, 2016
Michael Drury
Michael Drury

The British are leaving! The British are leaving! – Maybe. Friday provided a profound shock for the financial markets as the UK voted to leave the EU in the Brexit referendum. Over the past week, following the assassination of Labour MP Jo Cox, polls had shifted from favoring Leave to favoring Stay – right up until the last polls before voting. Indeed, even UKIP party leader Nigel Farage was indicating Thursday that Stay would scrape out a victory. The unexpectedness of the outcome generated substantial volatility and market angst in part because over optimism had led some to exit protective positions and they were forced to run to cover. What we learn from this is that predicting the future is never easy. Now economists have both weather forecasters and pollsters to joke about.

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A Nuanced Tone

September 4, 2015
Michael Drury
Michael Drury

Last week, many Fed officials gathered at the Kansas City Fed’s Jackson Hole Symposium to give their take on the need to make or delay the initial rate hike. Vice Chairman Stanley Fisher carried the Fed’s central message – it is still too early to decide about a September hike. Before he spoke, several speakers […]

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An Unsettling Equilibrium

August 6, 2015
Michael Drury
Michael Drury

GIC Chairman Michael Drury takes a look at the global economy today.

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The Global Expansion

July 2, 2015
Michael Drury
Michael Drury

GIC Chairman Michael Drury takes a look at the state of the global economic expansion.

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Income Inequality in the US

June 18, 2015
Michael Drury
Michael Drury

GIC Chairman and Chief Economist of McVean Trading and Investments discusses income inequality in the US.

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The Asian Infrastructure Investment Bank

April 14, 2015
Michael Drury
Michael Drury

Michael Drury, chief economist of McVean and GIC chairman, discusses the Asian Infrastructure Investment Bank in the context of global events.

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Two Steps Forward, One Step Back

April 7, 2015
Michael Drury
Michael Drury

GIC Chairman and Chief Economist of McVean Trading & Investments Michael Drury discusses the U.S. economy.

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Deflation

March 17, 2015
Michael Drury
Michael Drury

Chairman and Chief Economist of McVean Trading and Investments LLC discusses the value of the dollar and deflation.

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A Nirvana of Stability

March 5, 2015
Michael Drury
Michael Drury

GIC Chairman Michael Drury, of McVean Trading and Investments, discusses the increasingly stable US economy.

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The Rule of Three

February 26, 2015
Michael Drury
Michael Drury

GIC Chairman and Chief Economist of McVean Trading and Investments Michael Drury talks about some developments around the globe and how good things come in threes.

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The ECB and the Global Recovery

January 27, 2015
Michael Drury
Michael Drury

Chief Economist of McVean Trading and Investments Michael Drury talks about the ECB and the global recovery.

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China Data, Exports and Investment

January 22, 2015
Michael Drury
Michael Drury

GIC Chairman Michael Drury, chief economist of McVean Trading and Investment, explores recent data from China and its implications.

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