Relief rally reaches EM as Macron and Le Pen go through

Emerging market debt was tighter across the board on Monday morning, after a favourable outcome in the first round of the French presidential election spurred a rebound in core market asset prices.
EM bankers said risk appetite was back across their entire market, rather than a relief rally in any particular sector after far-right candidate Marine le Pen and centrist Emmanuel Macron went through to the second round run-off.
“Everyone was in wait and see mode before the election,” ...Already a subscriber? Login