Presidential Vote

Update: as expected Macron has expected Bayrou's alliance offer, AFP reports. It is still unclear if Bayrou has official withdrawn from the presidential campaign.

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European assets spiked from near session lows, with the Euro and French OATs jumping, dragging Bunds lower and pushing US indices to intraday highs after French politician Francois Bayrou announced he was endorsing Emmanuel Macron in the upcoming presidential election, without saying if he decides not to run.

By GotNews

And there it is.

A federal court in Wisconsin has denied an emergency halt to the recount of the presidential vote. Two pro-Trump political action committees, the Great America PAC and Stop Hillary PAC filed a lawsuit and a request in federal court in Madison on Friday for a temporary restraining order seeking to stop the voter recount.

Did Jeff Gundlach do it again? Shortly after the DoubleLine manager told Reuters yesterday afternoon that the Trump rally is ending, that "stocks have peaked" and that it is "too late to buy the Trump trade", US stocks tumbled to session lows, and have continued to drop overnight, with S&P futures down 0.3%, alongside sliding Asian and European markets; oil and the dollar are also down with the only asset class catching a bid are 10Y TSYs, whose yields are lower at 2.43% after reaching an 18 month high of 2.492% overnight ahead of today's nonfarm payrolls report.