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For the first time ever, French bond spreads are higher than those seen in Italy (both compared to Germany). This isn't just about "fiscal consolidation" worries and France's government budget, the real issue behind everything is economic differentials. Those need to be turned around and soon else France risks being the new, well, Italy. Eurodollar University's Money & Macro Analysis --------------------------------------------------------------------------------------------------------------------- What if your gold could actually pay you every month… in MORE gold? That’s exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month. Check it out here: https://monetary-metals.com/snider --------------------------------------------------------------------------------------------------------------------- NYT French Government Collapses, Again, Deepening Paralysis https://www.nytimes.com/2025/09/08/world/europe/france-vote-government-collapse.html CNBC France’s Macron names loyalist Lecornu as new prime minister https://www.cnbc.com/2025/09/09/france-macron-names-lecornu-new-prime-minister.html CNBC France’s borrowing costs rise after Fitch downgrade — and there could be more bad news ahead https://www.cnbc.com/2025/09/15/frances-borrowing-costs-rise-after-fitch-downgrade-.html Bloomberg French Borrowing Costs Top Italy’s in Historic Market Shift https://www.bloomberg.com/news/articles/2025-09-09/french-borrowing-costs-top-italy-s-in-historic-market-shift https://www.eurodollar.university Twitter: https://twitter.com/JeffSnider_EDU |