(Ed. note: This story originally appeared on GlobeSt.com, ALM-affiliated publication.)
NEW YORK — The immediate response to the outcome of Thursday's UK referendum on membership in the European Union was not positive, although the secession process won't begin for several months. Trepp LLC reported early Friday morning that as the results of the vote became clear overnight, 10-year Treasury yields fell 25 basis points and European stocks were off by 5% to 10%.