The Tell: Investors are breathing a sigh of relief over France, for now

A more united Europe?

A French presidential election victory Sunday by centrist Emmanuel Macron, a former investment banker who campaigned as an unabashedly pro-European reformer, over euroskeptic nationalist Marine Le Pen will feed the notion that a populist wave that led to Britain’s Brexit vote last June and Donald Trump’s U.S. presidential victory has crested.

See:Macron handily wins French presidential election — seen as an upbeat sign for stock market

This is the narrative financial markets have increasingly reflected over the past two weeks, following Macron’s first-place finish in the first round of the French vote. Investors, encouraged by a strengthening European economy and wary of stretched U.S.

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