Invesco's Read: French election more important than Greece

Invesco Perpetual's co-head of fixed income Paul Read has said April's French presidential election is the "one to watch" for markets in 2012.

Speaking at Investment Week's Strategic Bond Focus event in London last week, Read conceded "anything could happen" with regard to Greece's bailout negotiations, but suggested outcomes had now been priced in. "Banks have essentially provisioned for that scenario by writing off their exposures. If Greece goes there will be fewer buyers than sellers on the day, but it is no longer a turning point," he said. But Read warned the real risk factor remained political in nature, with the French presidential election in late April a major event for markets. Read said: "The one to watch is t...