UBS On-Air: Paul Donovan Daily Audio 'Budgets and bonds'
UBS On-Air: Market Moves · Podcast owner
November 29, 20242m 21s
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Show Notes
The French budget and bond yields are attracting attention, with the media ever eager to spot another Truss debacle. This weekend will (presumably) see some fevered politicking in Paris as politicians try to come up with a budget that will not scare markets, but will also not lead to a collapse of the government. France’s deficit is not sustainable, but the government is not actively seeking to make it dramatically worse; so Truss analogies are probably inappropriate for now.