French Stocks, Bonds Stumble As Communist’s Gains Upset Poll Predictions

Monday, April 10, 2017
By Paul Martin

by Tyler Durden
Apr 10, 2017

Following our warnings last week of anxious hedging ahead of the French election, new polls this weekend have stirred the pot of fear further as communist candidate Jean-Luc Melenchon surges making the race a four-way contest with many suggesting this favors Le Pen and the anti-EU voters.

France’s presidential election is becoming a four-way contest as far-left candidate Jean-Luc Melenchon surges to catch Republican Francois Fillon, stoking uncertainty over the outcome less than two weeks before voting begins.

In a sign of the closeness of the race, Bloomberg reports, Fllon turned his sights on Melenchon on Sunday as both contenders held rallies at opposite ends of the country. Fillon sought to rally supporters for a comeback as multiple polls suggest that Melenchon has the momentum going into the crucial final stretch of campaigning.

“The electoral potential of Jean-Luc Melenchon is very high,”
said Emmanuel Riviere, a pollster at Kantar Sofres in Paris. Even so, he added, “Fillon has the most solid base.”

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