Here's your summary from Markets Pricing 'Too Much Fear' Amid French Election: BlackRock (https://www.youtube.com/watch?v=3CpdQmIWn4g) on the Bloomberg Television channel:
**TLDR:** Markets are pricing in too much fear amid the French election, leading to potential spread compression in European government bonds.
1. Likely outcomes of the French election may result in fiscal expansion and a deterioration in the French budgetary situation.
2. The surprise election caught the market off guard, leading to an initial relief rally but potential spread compression in the future.
3. Despite fears being priced in, there is a possibility of spreads coming in a bit more in France and other European government bonds.
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