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by Trevor Sines

Mortgage rates moved higher today as global financial markets shifted ahead of this weekend's election in France.  One of the candidates--Le Pen--is a populist whose victory is seen as potentially destabilizing the entire EU.  Whether or not that's actually the case remains to be seen, but for now, stocks and rates have generally moved higher as polls show Le Pen falling behind (instability and uncertainty push rates and stocks lower).  

French politics are far from the only thing guiding the movement in interest rates.  If anything, there are too many potential sources of inspiration competing for attention.  These include geopolitical risks, fiscal policy uncertainty, currency fluctuations, a possible shift in the tone of economic data, tax reform hopes/headlines, and quite simply the preexisting momentum in the marketplace.  

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