Market Action in the Brexit Aftermath

Given the inroads the “Remain” camp was perceived to have made in the final days of the campaign, the outcome of Thursday’s “Brexit” referendum – in which British voters unexpectedly endorsed the U.K.’s exit from the European Union – has caught global markets completely off-guard.

The result has been a spike in volatility and steep declines across most return-seeking assets, as the necessary repositioning within investors’ portfolios has been particularly abrupt.

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