That noise you can hear is the sigh of relief coming from trading floors,

你現在聽到的聲音是金融交易市場鬆一口氣的聲音

that news that Emmanuel Macron has won decisively in his French presidential battle with Marine Le Pen.

埃瑪紐耶爾·馬克宏在與瑪琳·勒朋對戰的法國總統大選中，取得決定性的勝利

The euro rushed high after the far-right candidate, a proponent of the return to the franc, and the referendum among E.U. membership, had lost.

在主張脫歐公投、回歸法郎的極右派候選人勒朋落選後，歐元一度飆升

But the rally quickly reversed.

不過此走勢很快就逆轉了

And French stocks are, if anything, a little lower.

法國股市，如果有任何波動的話，下跌了一點

Government bonds are also going nowhere.

公債亦無明顯波動

What's going on? Well, for once, the market saw this coming.

到底怎麼一回事？可以說，這次市場事先預料到了選舉的結果

After the final presidential debate, they threw their weight behind the notion that Macron was the man,

在法國總統大選的最終回辯論後，他們都篤定馬克宏會贏

helping French stocks to rally by some 6% in two weeks, to a 9.5-year high,

造成法股指數在兩週內攀升 6% 左右，創九年半新高

while the euro on Friday hit its highest point since November.

而歐元則在星期五升至自十一月以來最高點

The gap between French and German bond yields had also contracted.

法國與德國的公債利差亦收斂

Investors remain positive that the result clears some big hurdles after the wave for investing in the eurozone.

投資人相信選舉結果會消除歐元區投資風潮後的一些主要障礙

But for now, it's a classic case of "buy the rumor, sell the fact".

但就現在而論，這就是所謂的「買在謠言起、賣在事實出」

Meanwhile, oil is a little steady around signs that OPEC production cuts could be extended.

另外，雖傳出石油輸出國家組織減產協議可能再延長的消息，油價目前仍處穩定狀態