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member SIPC. Welcome to the Bloomberg Surveillance Find Bloomberg's surveillance on Apple Podcasts, SoundCloud, Bloomberg.com, and of course on the Bloomberg. John Norman is the head of FX and commodities and international rates research at

J.P. Morgan joins us from our studios in London.

John, great to speak with you once again.

Let me start by asking you about the fallout from the effects of the election in France last

weekend. When you look at currencies, when you look at the FX space in Europe particularly

on the heels of that, what kind of a role has it played here over the last five days?

So I think the second round vote didn't have much of an impact on currencies because it was

sort of a done deal after first round elections that Macron would be the president.

So you did see a move up between first round and second round it

doesn't surprise me that second round didn't really deliver any any follow-through.

When you look at at Washington and all that's happening there very little

happening on the hill with regard to policy very little happening with tax reform very little happening on the hill with regard to policy, very little happening with tax reform, very little happening with health care reform.

And when you look at the legislative calendar, it's very compressed, there are I think 30 plus days left for Congress to do something.

What effect is that going to have do you

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