Kames' McNeill: Markets are too worried about the wrong thing

European political fears are overstated

John McNeill, head of rates at Kames Capital and co-manager of the Absolute Return Bond Global fund, has said the market is too worried about the wrong risks but believes fears about European politics are "overstated".

Speaking about the upcoming French election, McNeill said investors' worries about National Front leader Marine Le Pen winning are unfounded, as her chances are extremely low. According to The Telegraph, Le Pen is currently leading the polls with 26.4% of the vote after the first TV debate with leader of the En Marche! party, Emmanuel Macron holding 25.1% of the vote while Francois Fillon, leader of the Republican party, is on 18.2% as of 23 March. However, despite Le Pen's current lead, it is believed Macron is likely to to win in the second round of the elections, as he is expected ...