Three scenarios for after the French election

With France heading to the polls on Sunday for the first round of the legislative election, the latest polls show a small uptick in support for the National Rally (RN) and French bond spreads have widened further in response. But unless RN or any other grouping does a lot better than expected, the eventual make-up of parliament will still be uncertain on Sunday evening. In this Weekly, we set out three scenarios for France after the election. Otherwise next week we expect to learn that euro-zone headline and core inflation edged down in June.