Risk On as French Vote Ripples Around the World: Markets Wrap
- U.S. stocks follow Europe higher, havens and volatility fall
- Investors bet on Macron victory after first round of voting
CMC's Spooner Says Markets Will Assume a Macron Win
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Relief spread through the global financial markets Monday after France’s election left a centrist on track for the presidency, easing concerns that the country will leave the euro currency bloc. U.S. stocks rose while Treasuries and gold fell and volatility gauges plunged.
European shares surged to a 17-month high after Emmanuel Macron advanced as favorite in runoff over nationalist Marine Le Pen. The euro scaled back gains after its best open on record. The yen was the worst performer among major currencies.