Traders writing down chances of a Le Pen presidency - BBG

Bloomberg carries a piece on Monday, following the outcome of the R1 of the French election, which puts Emmanuel Macron in pole position to become the country’s next president on May 7.

Key Points:

Markets trimmed their hedges against a Marine Le Pen victory Monday, judging that the outcome of France’s first-round presidential poll reduced the odds of her winning office and seeking an exit from the euro.

A Macron victory means the European Central Bank (ECB) may be able to countenance tapering stimulus toward the end of this year.

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