Selling Of French Bonds Accelerates As Le Pen Extends Lead, Macron Tumbles In Latest Poll

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Selling Of French Bonds Accelerates As Le Pen Extends Lead, Macron Tumbles In Latest Poll

(photo: AFP/Joel Saget)

Originally appeared at ZeroHedge

Another day, another headache for owners of French bonds. In the latest French presidential poll, conducted by Elabe for TV broadcaster BFMTV, Marine Le Pen extended her lead by another 2-3 points, while support for her primary centrist challenger Emmanuel Macron, tumbled by 5 points in the last week.

The poll, released today, showed that Le Pen’s lead rose by either 1.5 points to 27% or by 2 points to 28%, depending whether centrist candidate Francois Bayrou would take part in the election…

Selling Of French Bonds Accelerates As Le Pen Extends Lead, Macron Tumbles In Latest Poll

… or withdraw.

Selling Of French Bonds Accelerates As Le Pen Extends Lead, Macron Tumbles In Latest Poll

The most surprising result, however, is the plunge in Macron’s odds, who lost five points in the first round voting intentions compared to the same poll conducted two weeks ago. Macron, who is the former French economy minister and who is running on a pro-EU platform, fell to third place behind right-wing candidate Francois Fillon, whom he eclipsed earlier in the month after a major embezzlement scandal erupted in which Fillon was accused of using public funds to pay for his family’s wages. Fillon gained 3 points in both variations of the poll.

But more concerning for her opponents, was the notable gains Le Pen made in the second round, where while still trailing behind both Fillon and Macron, she has seen a 4 points gain in the past week, shrinking the difference between Macron in the runoff round to 59-41. Until several weeks ago, she was firmly in the 20% range.

Selling Of French Bonds Accelerates As Le Pen Extends Lead, Macron Tumbles In Latest Poll

Meanwhile, as we have observed virtually every single day in the past three weeks, the better Le Pen does the polls, the higher French yields rise, and the greater the spread to German bunds….

Selling Of French Bonds Accelerates As Le Pen Extends Lead, Macron Tumbles In Latest Poll

… over fears that a Le Pen victory would be the last nail in the coffin for the Eurozone. Le Pen’s FN party has warned it would take France out of the Eurozone, return to the French franc, and would redenominate billions in French debt, a step which leading economists and rating agencies last week declared would to “massive sovereign default” and global financial chaos.

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  • BL

    (((Owners of French bonds)))

  • hhabana

    If she wins, but on the dip! Merkel, you evil cunt, your people will be running to France to escape their Muslim masters. Same with Scandinavia. Where are the vikings that brought Paris to their knees? Sharing their women and eating kebab. Shame!!!

  • Igor Ochocinszk

    All the scandal to destroy François Fillon by globalist elite has obviously failed. They hoped they could pull this mind-fucked Macron who’s wife was already mature before he was born with his insane and criminal hollande-style ideas.

    • Bob

      There is certainly something odd about the personal side of this Monsieur Macron – his wife was his high school theatre-arts teacher, and is twenty years his senior. Something off-wack going on there.

  • Nigel Maund

    Macron lacks any substance whatesoever! He’s merely a Rothschild’s plant and puppet. He would join over Rothschild’s puppets Mario Draghi and Manuel Barroso just to name the most obvious two former Goldman Sachs employees. Let’s hope for ther sake of France and Europe Le Pen wins and then she will have the very same problems that Trump now faces: all out conflict with the hyper – powerful and evil globalists who will quite literally stop at nothing to control her or ultimately destroy her.