Euro Crisis Flashbacks Hit Markets
Traders are in sell-first, ask-questions-later mode and the euro is coming under sustained pressure as negative rhetoric surrounding the upcoming French election heats up. The dollar and yen are climbing on safe-haven demand, Treasury yields are inching lower, and North American equity futures are looking subdued ahead of what could evolve into a risk-off day in broader financial markets. Franco-German bond spreads are blowing out after French finance minister Bruno le Maire warned a victory for left wing parties in the upcoming snap election could see the country exiting the European Union, triggering “economic collapse” and a “guaranteed downgrade” from...