As French Election Risk Plunges, One Heisenberg Reader Called It

As French Election Risk Plunges, One Heisenberg Reader Called It

Wax on, wax off. Risk on, risk off. I said it on Sunday: this week would be all about French politics. The relief rally in OATs (triggered by Wednesday's reports of an alliance between centrist François Bayrou and Emmanuel Macron) has continued into Thursday after the latest OpinionWay poll showed Macron beating Le Pen 60%-40% in the second round compared with 59%-41% spread in Wednesday’s poll. OATs extended gains, led by the 10Y-30Y sector with 10Y yields falling to one-month lows: 
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