presidential election

It appears the chairmen of UBS have plenty to say on Europe.Following former UBS chairman Peter Kurer's comments that "to the elites, the EU is a means to get rich quickly and export their problems," UBS current chairman Axel Weber has warned bankers that Europe is not "out of the woods" from its political risks even after Emmanuel Macron’s reassuring victory in the French presidential election.

Peter Kurer recently remarked on the end of the Euro...

The confetti were still littering Paris from Macron's celebration event on Sunday night when the 39-year-old Frenchman became the youngest president in French history, and already he met with one of the biggest challenges facing his new administration: a population, mostly among the local labor unions, that is unwilling to accept any if not all of the proposed economic reforms, and made this abundantly clear on Monday by clashing in violent protests across Paris with the local riot police.

Macron won the French presidential elections against Marine Le Pen. Now comes the hard part.

With the French election now finally in the rearview mirror, this week's focus is on global inflation releases, with the spotlight falling on the US and China, as well as retail sales in the US. We also have BoE and RBNZ rates meetings. In other data we note industrial production in the Eurozone, UK and Norway along with US retail sales and Fed speakers.

Key developed market events

Two words - "priced in."

Despite what Hillary Clinton proclaimed "a victory for the world"...

Victory for Macron, for France, the EU, & the world.

Defeat to those interfering w/democracy. (But the media says I can't talk about that)

— Hillary Clinton (@HillaryClinton) May 7, 2017

Macron's win in the French presidential election has left capital markets with a whole lot of nothing...