France: Second round of the presidential election in the limelight - BBH

Analysts at BBH point out that the second round of the French presidential election is this weekend, and again results should be known before the open of Asia-Pacific markets on Monday.  

Key Quotes

“There is little doubt that Macron will win.  However, the microscopic look at Macron's policy proposals is distracting the focus.  The French president is not a figurehead, but its main power lies in foreign policy.  Domestically, Macron is a micron.  He does not have a party in parliament.  He was part of the pro-business wing of the Socialist Party (really social democrat in practice).”

“If one is confident that Macron is the next French President, attention must turn to next month's parliamentary election.  Yes, Le Pen and the nationalist-populists will be defeated in the fourth consecutive European election (Finland, Austria, the Netherlands), but the course of French policies will be determined by the configuration of parliament.”