UBS: Le Pen Victory Could Be 5X Worse Than GreeceMark Melin
A Marine Le Pen victory in the French election is unlikely, but due to the potentially devastating fat tail nature of such an outcome, stress testing for extreme model divergences should be a priority, a March 28 UBS Global Macro Strategy report observes. To conduct their stress test, the UBS team, led by Strategist Lefteris Farmakis, considers two levels of “interconnectedness,” a term often . . .
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