Equity markets around the world took a hit at the end of last week in the wake of Friday’s news that Britain voted to leave the European Union. Stocks almost everywhere posted sharp losses once the dust cleared for the trading week through June 24. US junk bonds, however, managed to post a small gain, delivering the best performance last week for the major assets classes, based on a set of proxy ETFs. US investment-grade bonds ticked higher as well. Otherwise, red ink dominated the field.
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