Yes, likely the banks' analysts modelled the Brexit risks badly. Given all their inherent personal bias was for Bremain. But they may have unravelled a lot of it as the results of the polling booths came rolling in. There was a lot of frantic activity, that's for sure. We'll have to wait and see. But nonetheless, Brexit is infinitely more black-swan than the white-swan junk debt from oil shaler fear-mongering being peddled about the web a while back.