Source: French Interior Ministry
Immediate attention will now turn to the Parliamentary elections scheduled for the 11th and 18th June where the markets expect cohabitation, which we previously discussed.
The focus will also be on how strong a footing Macron's party receives as this will be key for his reform agenda. With no majority then it will be hard to achieve meaningful labour market reform. France is seen as being socially and economically divided and it is still under a state of emergency because of the terrorist threat. This means the question is how long can his honeymoon period as President last? Perhaps he may be fortunate and benefit from what many successful leaders need and that is the luck of being elected at just the right time in an improving economic cycle.