Europe Rapid Response Germany, France, Italy & Spain HICP (November 2025) The national inflation data for November published today suggest that headline and core inflation in the euro-zone edged up. 28th November 2025 · 2 mins read
Europe Rapid Response Euro-zone Flash PMIs (November 2025) November’s flash PMI for the euro-zone was little changed from the reading in October and suggests that the economy has continued to expand only slowly in the fourth quarter, while inflationary... 21st November 2025 · 2 mins read
Europe Economics Focus Has France’s RN turned moderate? As it has dropped plans for “Frexit”, scaled back its tax and spending promises and made overtures to business, the RN is worrying investors less than it did in the past. However, it is no more likely... 20th November 2025 · 16 mins read
Europe Commercial Property Update Corporate bonds more supportive of French property valuations Rises in French government bond yields point to material increases in property yields in the next year or so. However, corporate bond yields, as an alternative benchmark, suggest less need for... 5th November 2025 · 3 mins read
Europe Rapid Response Germany, France and Italy GDP (Q3 2025) National data available so far suggests that euro-zone GDP probably grew by a slightly stronger than expected 0.2% q/q in Q3, mainly thanks to a strong performance by France and Spain. Germany and... 30th October 2025 · 2 mins read
Asset Allocation Update France’s stock market likely to remain a laggard France’s financial markets have been under the cosh for much of 2025, as political gridlock in parliament has kept the door revolving at the Matignon. Equities have not gone unscathed, with the bond... 27th October 2025 · 6 mins read
UK Economics Update Why are the UK’s borrowing costs higher than France’s? The UK’s high borrowing costs relative to those of France appears to reflect differences in monetary policy and its higher inflation rate, rather than greater fiscal concerns. As inflation in the UK... 9th October 2025 · 6 mins read
Capital Daily What to make of the latest bond market mess While long-term government bond yields have stabilised today, political developments in France and Japan over recent days highlight how fiscal uncertainty continues to put upward pressure on long-term... 7th October 2025 · 4 mins read
Europe Economics Focus The fallout from France’s ongoing political deadlock The latest political developments in Paris underline that France is heading for some kind of fiscal crisis which in turn means the risk premium on its debt is likely to rise in the coming year or two... 6th October 2025 · 13 mins read
Europe Economics Update France’s PM resignation: what next? The resignation of yet another French prime minister, this time after just 27 days, hammers home how the fractured parliament is making it nearly impossible to pass a budget that reduces the fiscal... 6th October 2025 · 3 mins read
Europe Rapid Response Euro-zone Flash PMIs (September 2025) September’s flash PMIs suggest that the euro-zone economy grew fairly slowly again in Q3 and that price pressures eased. 23rd September 2025 · 2 mins read
Capital Daily French bonds are up the Bayrou without a paddle The (largely expected) fall of the French government has made limited impact on euro-zone financial markets. But it represents another step in the gradual deterioration of the outlook for French... 9th September 2025 · 4 mins read
