 Ludovic Supran from Allianz speaking there. Prior to the parliamentary elections, France had already been admonished by the EU for breaking the bloc's fiscal rules with the size of its budget deficit. Morgan Stanley's chief US equity strategist, Mike Wilson, has warned of a stock market correction of 10% between now and the US presidential election. As highly likely as the S&P 500 opened the week at all-time highs, Wilson told Bloomberg that traders should brace for a pullback.