Risk Aversion Abates Sending European Shares Soaring

European markets surged following the French election result, that will see the victorious pro-EU centrist Macron taking on EU-critic Le Pen in the second round on May 7, with polls giving Le Pen very little chance to beat Macron. French exit concerns are being removed and save haven flows reversed, which saw Gilt and especially Bund futures selling off and core yields rising while the 10-year French yields lost nearly 10 basis points while the Euro surged nearly 2-big figures. Stock markets meanwhile rallied and DAX and FTSE 250 reached new highs, but it was the French CAC that led the way with a more than 4.0% gain. The French election overshadowed data releases, including a German Ifo survey that rose to the highest level since 2011.

 

Continue reading: https://www.iforex.com/news/risk-aversion-abates-sending-european-shares-soaring-34155 

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