Merci Macron!

Three weeks ago we explained our rationale for investing in European banks:

LINK: European Banks

The results of the first round of the French presidential elections sent this trade into high gear.

Here is the chart on the iShares MSCI Europe Financials ETF (+5.77% yesterday):

And here is the chart of UniCredit (UCG IM):

UniCredit rallied 13.77% yesterday. You would have to hold a German Bund for a life-time to receive a that sort of net return.