Athey Is Concerned About Investing in France

The transcript discusses the stability of the French government and its impact on debt valuation, analyzing the potential for repricing across the French curve. It explores the European Central Bank's (ECB) rate cuts and inflation outlook, and how US economic data influences Federal Reserve decisions. The effects of tariffs and policy on the economy are examined, along with strategies for portfolio adjustments before year-end.

What are the significant concerns regarding the fiscal trajectory in France?

How do credit spreads in the Eurozone correlate with economic conditions?

What assumptions are being made about the ECB's cycle of cuts expected through 2025?

What factors could influence the Fed's decision-making regarding interest rates?

How might tariffs impact inflation and the Fed's response to it?

What challenges does the Fed face in dealing with supply-side issues?

How is the portfolio being adjusted before year-end according to the discussion?