March 6, 2017 / 3:57 PM / 9 months ago

Amundi says pre-election French risk premiums legitimate

PARIS, March 6 (Reuters) - Amundi said on Monday that higher risk premiums were warranted in the run-up to France’s presidential election, even if the French asset manager did not expect an anti-EU candidate to be elected.

“It’s not our central scenario, but it does nonetheless seem legitimate that risk premiums (spreads versus Germany, volatility, CDS...) remained high until things get clearer,” Amundi research director Philippe Ithurbide wrote in a note.

He said premiums were likely to ease after the two-round election on April 23 and May 7.

Polls suggest independent Emmanuel Macron would beat anti-EU candidate Marine Le Pen in the second round.

Reporting by Leigh Thomas; Editing by Adrian Croft

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