The CAC is higher by an astounding 4.6%, thanks to Macron advancing to the 2nd rd of the French Presidential elections. The fears of the EU ending, due to a Le Pen upset, is looking more and more like an extreme black swan event — considering Macron is up 25 points in the polls.
Globally, we’re cutting dicks off on an industrial scale — making transgenders out of short sellers who thought it was wise to bet against Le Fly and his algorithmic winshippery.
The DAX is higher by 3.1%, FTSE 1.9%, IBEX 3.3% and the greasy MIB by 4%.
The Euro is higher by 1.1% and the dollar is trouncing the yen by 1.05% — because that’s what the yen-carry trade risk on scenario mandates.
We’re seeing a massive move out of bonds into equities, with the US 10yr surging ahead by 7bps to 2.31%. NASDAQ futures are higher by 63 and I’d like to remind you that Exodus flagged OS last week and will be celebrated around the globe today, amongst the small group of fortunate people who have access to it, as an oracle.
Defensive stocks should be expected to lose, namely gold, REITs and utilities. Everything else is fair game to the upside. I do not anticipate wild gains in crude, since the commodity is only higher by 0.6%. I do, however, expect to see my portfolio of military-industrial complex stocks pacing the markets very tightly, as globalism celebrate a near death event.
Here are some notable movers in Europe, bank stocks.
DB +10.2%, BBVA +7.4%, ING +7%, SAN +6.4%, BCS +5.7%, CS +4.9%, RBS +2.8%
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