Investing.com - Global financial markets rallied this week, with indices in Asia, Europe and the U.S. touching multi-year highs on relief over the first round of the French presidential election and as the Trump Administration presented its long-awaited tax plan.
Appetite for riskier assets improved in the wake of Emmanuel Macron's victory in the first round of Sunday's presidential elections in France.
Polls showed pro-Europe Macron easily defeating far-right nationalist Marine Le Pen in a runoff vote due to take place May 7, reducing the risk of an anti-establishment shock in the final round and easing fears over a possible French exit from the euro zone.
Meanwhile, U.S. President Donald Trump's tax plan unveiled on Wednesday proposed cutting the income tax rate paid by public corporations to 15% from 35% and reduce the top tax rate assessed on pass-through businesses, including small partnerships and sole proprietorships, to 15% from 39.6%.
Expectations for lower corporate taxes have been an impetus for stocks ever since Trump was elected in November. The S&P has gained almost 12% since the election on reignited hopes around lower taxes.
To see more of Investing.com’s weekly comics, visit: http://www.investing.com/analysis/comics