Markets brace for bumpy ride after French election

LONDON (Reuters) - Financial markets are unlikely to greet the expected election of a Socialist French president with enthusiasm, except perhaps those placing early bets that bond yields will rise, the euro will fall and equities will be more volatile.

With the first round of voting on Sunday, Socialist candidate Francois Hollande is poll favourite to win on the second round on May 6, raising concerns that his grip on government finances will be lighter, and a euro zone agreement on fiscal discipline might be unpicked, though his campaign team has backpedalled on earlier pledges to renegotiate it.