Welcome to the world after Brexit: Here's what happens next
First — technically speaking — the referendum is not legally binding. In theory, British Prime Minister David Cameron could ignore the will of a slight majority of voters, and not make any moves to exit the political and economic bloc.
A majority of British voters said Thursday that the United Kingdom should leave the European Union. Markets are moving wildly, and currencies are making big moves, but the actually political process will be much, much slower.
The dollar index, meanwhile, rose 3 percent, setting it up for the biggest daily gain since 1978, according to Reuters.
Treasurys also felt the Brexit, with the US 10-year hitting 1.507 percent — its lowest level since August 3, 2012 when the 10-year yielded as low as 1.471 percent.
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