Dow Jumps, Gold Dumps As Markets Open After French Vote; Trader Warns “Beware The Hangover”

Jon Alternative Media, Blogosphere, Economy, Gold, Government, Politics, Precious Metals

A Macron ‘win’ in the first round of the French elections has (judging by the initial reactions) allayed many fears of imminent doom. Dow futures are up around 200 points, Bond futures are down, gold is down (despite USD weakness)…
Stocks back at 3-week highs as gold sinks…
EURUSD is clinging to 1.09 as Treasury prices drop…
However, as Bloomberg’s Cameron “macroman” Crise notes, “Enjoy the party, parkets; but beware of the bangover.”
Sometimes, the pollsters get it right. The two favored candidates in the French first round vote have indeed gone through, setting up what looks like an easy victory for Emmanuel Macron in a couple of weeks. While today should be a good one for the euro and risky assets, the party may be short-lived; it won’t take long before market focus swings back to the United States and a potential government shutdown at the end of the week.

This post was published at Zero Hedge on Apr 23, 2017.