As tipped by the knee-jerk reaction in EUR/USD and EUR/JPY, the “market-friendly” outcome from the first round of the French elections looks to have set the stage for a decidedly risk-on-ish Monday.

Here’s a quick look across markets as we head into the overnight session.

S&P futs are up ~1%…

Treasury futs are down the most since March 1…

USD/JPY is up sharply…

Along with EUR/JPY as the yen is dumped for riskier bets…