Market rebound since Brexit may not reflect risks, says BIS

Financial markets recovered far more rapidly than expected following Britain's vote to leave the EU, the Bank of International Settlements said Sunday, warning that the rally might be ignoring significant risks ahead. During the two days of trading following the so-called Brexit vote on June 23, most major stock indexes shed more than five percent, while the broadest London stock exchange index plunged 15 percent, and the British pound lost 10 percent of its value against other major currencies.