France’s Dominance in Euro Credit Leaves Market at Vote’s Mercy

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Credit Default Swaps Новости

France,Bloomberg,European Credit Markets

(Bloomberg) -- President Emmanuel Macron’s surprise election call last week has highlighted France’s prominence in European credit markets.Most Read from...

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Still, Le Pen’s closest ally, Jordan Bardella, insists that the National Rally party would stabilize France’s public finances. Data compiled by Bloomberg shows that companies operating in France comprise 20% of a key index of euro-denominated investment grade debt and more than 18% of a euro high-yield index, the highest share by country in the latter case. In addition, French issuers have the biggest share in European CLOs, with around 19% exposure on average, according to Morgan Stanley strategists Vasundhara Goel and Samyuktha Gopal.

He said he could see further pain if a far-right victory in the French election fueled further concerns over fiscal loosening. The cost of protection against defaults on the senior debt of some of the largest banks has jumped more than that of euro area peers since the election was called, according to data compiled by Bloomberg.

Jon Stewart returned to The Daily Show on Monday, offering “a quick state of play” on the 2024 presidential election. As the comedian dived into the “incredibly consequential” political showdown, he called out the hypocrisy of Donald Trump attempting to paint Joe Biden as incompetent over his age. “I guess the election has basically boiled …There are a few events in every presidential campaign that matter.

 

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