Can you smell that rancid odor? It’s the end of globalism. France’s Fillon will attempt to save his political career today, scheduling a press conference to discuss the fact that his wife and two children made over $967k in public funds for doing nothing, all the while Le Pen crushes all in recent polling.
The stark realities of Le Pen being a distinct possibility for France has the bond markets in Europe freaking out — sending French-German spreads to the widest since 2013.
The subsequent result of France electing a person whose campaign pledge was to blow out of the EU and NATO is causing a disruption in the matrix. The FTSE MIB is feeling the brunt of the sell off, down by 1.65%. Overall, the Eurostoxx 50 is down in the magnitude of 1%.
More interestingly, German bunds are sinking in yield, while the periphery nations are rising. This divergence, although small, is notable and will upset the apple cart — should it continue.
Bund Spreads
France 72bps
Ireland 81bps
Italy 197bps
Portugal 382bps
Spain 137bps
The lowest bond yields in Europe belong to the Swiss. They plunging this morning.
Happy Monday.
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Le Pen=Trump=Brady > Fillon=Clinton=Ryan
You mean so-called President Trump,
who ordered Navy Seals (so-called fighters)
into Yemen, where they got their ass kicked?
Lesson learned… never trust local intel.
Word is the bad guys knew the Seals were coming. Imagine that…
In other words, our boys walked into a Rigged Game.
rigged is a confused old decrepit constipated pussy hat. That is all.
Wow, pretty douchey