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Brexit So Far Not Such a Bad ‘Gamble’ After All in Most Markets

  • Even U.K. stocks are up, but only thanks to the pound’s plunge
  • Bonds, developing world benefit from search for safety, gains

Britain’s vote to leave the European Union was supposed to be “the gamble of the century,” in the words of David Cameron, then U.K. prime minister.

That may be true, but judging from the reaction so far from the world’s stock, bond and other markets, opting for Brexit wasn’t the past month’s worst wager. The launch of Turkey’s bungled coup clearly holds that distinction.