IFR Euro Outlook: Germany €4bn 4/29 Bobl tap, France uncertainty to last into elections

...Given the uncertainty presented by the French elections, investors will either wait for their result, or strong hints of the likely outcome arriving beforehand, presumably via updated polls.

This suggests the uncertainty in European markets will persist over the rest of the month if not into early July. And that is something reflected by the VSTOXX holding at aleady elevated levels, and the iTraxx Crossover Index similarly holding steady, again at elevated levels...