Macron wins, as expected....will be interesting to see if we will get continued buying or 'sell the news'.
And this is why all the implied vol was elevated around the first round vs the 2nd round.
Macron wins, as expected....will be interesting to see if we will get continued buying or 'sell the news'.
Good call on the relative importance of 1st and 2nd rounds Mav. I'm inclined to think the parliamentary elections won't have any implications beyond the CAC. Macron was the status quo candidate, the markets probably don't care how much he can achieve in France as long as the EU/Euro are not affected.EUR/USD opens up slightly above 1.10 in the spot market. The 2nd round was completely priced in.
Alexis Stenfors was a rogue trader who was never prosecuted. Interesting account here, book out on the 15th.
https://www.theguardian.com/busines...nds-rogue-trader-barometer-of-fear?CMP=twt_gu