Name: Euro and French equities jump | Market Minute
Uploaded: 2017-04-25T07:23:17.000Z
Duration: 1 min 11 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

Here's what we're watching. We're trading under way in London.

In France, we are down to two candidates: Macron v.s. Le Pen.

Participle clauses

And the market likes the sound of that second-round contest, looking for a Macron victory.

French banking stocks surging, and that's driving CAC 40 up 4% at the open.

Risk-on is not just confined to France, however.

Italian shares up more than 3% at the open, with even London's FTSE 100 up over 1.5%.

Euro climbed above 1.09 in Asia against the dollar—a five-month peak.

Single currency remains at 1%, around 1.083.

Euro has also sharply rallied against the pound and rose briefly against yen 120

with the premium for French 10-year paper shrinking to less than 50 basis points over German bunds.

This spread was back near 80 basis points last week.

And the question is: how soon do we see this relationship revert to the 30 basis-point area that largely sufficed before November?

A snap poll shows 62% support for Mr. Macron, and only 38% for Ms. Le Pen.

That's the kind of spread the market really likes to see.

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Euro and French equities jump | Market Minute

relationship

spread

surge

shrink