The number of futures betting on euro-area equity turbulence crashed 44% from a record following last week’s expiration, as it appears Emmaniel Macron’s victory has seemingly saved the world…
As Bloomberg details, that was the second-biggest one-day drop on record, after a 53 percent decline in open interest back in August 2010, when the market was much smaller.
With France’s presidential election out of the way and the VStoxx Index set for its biggest monthly slide of the year, investors are paring their wagers for volatility ahead… because what could possibly go wrong in Europe with Italy and Spain heating up and Draghi being pushed towards tighter policy?
via http://ift.tt/2qSEr7t Tyler Durden