Le Pen and Brexit Are Forcing Traders to Redraw Their European Strategy
- Economic data and stimulus yield market sway to political risk
- Volatility numbers hint at some complacency as elections loom
Donovan: Market Concerns Are About Le Pen's Position
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“The consequences of a bad outcome may be severe.”
Some would call that an understatement. Marco Valli, the chief euro-area economist at UniCredit SpA in Milan, was reflecting on the chances of an upset in one of this year’s three major elections in Europe.