Mercer's Monthly Market summary provides an overview of global financial markets.
Equity markets drifted higher in the first week of June. However, volatility surged and a flight to safety ensued when sentiment turned towards a potential Brexit. The final vote on June 23 in favor of the UK leaving the EU sent a shockwave through financial markets, with European and UK equities suffering immediate and heavy losses. Central banks were on standby with liquidity and the promise of monetary policy stimulus, which helped to diffuse the shock and helped markets recoup most of the losses surprisingly quickly.
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