Strategists Francis Diamond, Raphael Brun-Aguerre and Aditya Chordia discuss the first round of voting in the French elections, implications for the outcome after the second round and the recent reaction in French spreads and broader European fixed income markets. They also touch briefly on the upcoming UK general election.   This podcast was recorded on 02 July 2024. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4736223-0, https://www.jpmm.com/research/content/GPS-4736551-0 and https://www.jpmm.com/research/content/GPS-4732647-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2024 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.