European Macro Stress: French Debt Fears and Mild Inflation Upside
French debt concerns are driving the largest equity underperformance relative to European peers since 2010, while September CPI came in slightly above expectations at 3.1% YoY.
What we know
The FT reported French debt worries spilling into equities, marking the biggest French underperformance since 2010 as budget credibility concerns mount. On the data front, an account on X reported France September CPI at 3.1% YoY — above the 3.0% estimate and prior reading — while the EU-harmonized figure held at 3.4%. European indices reflected the mood: DAX -0.53%, Euro Stoxx -0.58%. Switzerland's September PPI came in at -0.2% YoY, remaining in deflationary territory.
Sources
“French debt worries spill into stocks, driving biggest underperformance since 2010”
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