The search for safe investments has led investors towards government bonds, which has pushed long-term interest rates back down and caused the yield curve to flatten again. The stock markets also recorded price losses and the pound sterling remains under pressure. But overall, financial markets responded calmly and there were no signs of panic.
This was probably because, among other things, the vast majority of banks and supervisory bodies had treated the Brexit scenario with the seriousness it deserved and had been prepared for that outcome. Another reason for the lack of severe disruption is that banks are now far more resilient than they were in the autumn of 2008.