📝 See 65% Chance of Macron Win, 35% Chance For Le Pen: Citi

A Le Pen victory could see the euro weaken to $1.065; a Macron win should provide “mild upside” to the euro, especially if it’s accompanied by a centrist parliament after legislative elections in June. It is prudent to maintain risk hedges via short 15-year OAT versus swaps and short 8-year OAT versus Austrian bonds. - Citi Strategist