Macron Win Stems European Populism Tide — for Now

The French electorate met market expectations by elevating Emmanuel Macron to the presidency in Sunday’s run-off election against Front National candidate Marine Le Pen. His solid victory, with 66% of the vote, signals lower political risk across developed markets and is likely to support the rally in European markets building up to this outcome. Nonetheless, the question remains whether his victory proves only a temporary respite or heralds political renewal.

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