BlackRock, the world's biggest asset manager, is optimistic about the outlook for France ahead of its presidential elections and will continue to hold a large stake in the country's government debt, according to Michael Krautzberger, manager of the firm's EuroBond Fund. Market jitters over the polls, which have pushed the premium investors demand to hold French over German debt to the highest level in 2017, reflected the fact that the nation's bonds had been priced too cheaply, said Krautzberger. May's election will see centrist Emmanuel Macron face off against Marine Le Pen, president of the far-right National Front party.
BlackRock, the world's biggest asset manager, is optimistic about the outlook for France ahead of its presidential elections and will continue to hold a large stake in the country's government debt, according to Michael Krautzberger, manager of the firm's EuroBond Fund. Market jitters over the polls, which have pushed the premium investors demand to hold French over German debt to the highest level in five years, reflected the fact that the nation's bonds had been priced too cheaply, said Krautzberger. May's election will see centrist Emmanuel Macron face off against Marine Le Pen, president of the far-right National Front party.