Faced with the prospect of a far-right or a far-left president, the bond market doesn’t see France curbing its rapidly growing pile of debt anytime soon and has started weighing the possibility that the eurozone’s second largest economy could default.
That’s according to Thierry Wizman, global FX and rates strategist at Macquarie Group. In a note Thursday, he said the cost of insurance against a French default is now the highest among the major EU countries and the U.K.
