France Shows Every System Is Rigged in Its Own Way
Over the past decade, the fate of nations and continents has turned on the finer points of political science — in Greece, Britain, the U.S. and now France.
Into the runoff, with around 28% of the first-round vote.
Photographer: Ludovic Marin/AFP/Getty
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With the first round over, and two weeks to go until the decisive runoff, investors seem to have calmed down a little about the French presidential election. On a day when bonds sold off the world over, the spread of French over German bond yields dropped right back to its level of a month ago, before the hard-right challenger Marine Le Pen surged in the polls. French stocks rebounded somewhat relative to the rest of Europe, after a torrid time: