Market angst canada goose clearance about France infects whole of EU

LONDON (Reuters Breakingviews) France canada goose clearance sale presidential election is fomenting deep anxiety in markets. Currency options prices show investors have rarely been so cheap Canada Goose worried about how a single event might weaken canada goose deals the glue that holds the European Union together. Blame far right candidate Marine Le Pen, whose promise to reshape ties with the canada goose black friday sale EU if she wins would be an existential test for the whole bloc.

Badges for Marine Le Pen, French National Front (FN) political party leader and candidate for French 2017 presidential election, are displayed to sell before a political rally Canada Goose Jackets in Saint Raphael, Canada Goose sale France, March 15, 2017. REUTERS/Jean Paul Pelissier

Polls suggest Le Pen will lose a second round run off on May Canada Goose Online 7, regardless of whether her opponent is independent centrist Emmanuel Macron or scandal hit Francois Fillon, the centre right candidate. Yet investors have been caught off canada goose store guard by too many surprises during the canada goose coats on sale French campaign and by votes Canada Goose online in other countries to take a Le Pen defeat for buy canada goose jacket cheap granted.

The depth of their unease is revealed by the implied volatility of currency options. The difference canada goose between one month contracts, which expire before the second round vote, and two month options, buy canada goose jacket which cover the entire election period, provides a snapshot of investor anxiety. For euro dollar options, this gap hit 2.7 percentage points on March 14 the widest since 2002 before narrowing slightly after the Dutch anti EU politician Geert Wilders failed to make a breakthrough in elections on Wednesday.

Markets canada goose coats could quickly swing back if Le Pen loses. As last year referendum in the United Kingdom showed, investors have no better idea than the canada goose outlet toronto factory man in Canada Goose Coats On Sale the street about how elections Canada Goose Parka will pan out. That probably why they are so worried right now.

BreakingviewsReuters Breakingviews is the world’s leading Canada Goose online source of agenda setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world canada goose outlet store locations every day. A global team of about 30 correspondents in New York, London, Hong Kong and canada goose replica other major cities 2018 canada goose outlet provides Canada Goose Outlet expert analysis in real canadian goose jacket time.