FRANCE: Ecologists' Ldr Says New PM Not From Her Camp, Pension Pledge Not Enough

Oct-10 15:23

Leaving the meeting of party leaders and President Emmanuel Macron, Marine Tondelier, leader of the environmentalist Ecologists, said, "We are leaving this meeting stunned (...). We believe we are coming away with no answers on anything, except that the next PM, who will be appointed in the coming hours, will not be from [her] political camp," reports Margaux Duguet at FranceInfo. 

  • Adds "On the issue of pensions, Marine Tondelier asserts that the president addressed the "issue of postponement over time" of the age measure: "this cannot convince anyone on the left or among the Ecologists."
  • "All this is going to end very badly," warns the president of the Ecologists again. "We have understood very clearly that appointing a left-wing or ecologist PM was not his option," she says.
  • "The president wants to continue to keep control over Matignon," laments [Ecologists co-leader] Cyrielle Chatelain. "We have had no response on the substance of the policies," she adds, asserting that the suspension and repeal of the pension reform have been ruled out by the president."
  • The downbeat comments from the Ecologists' co-leaders, whose party sits in the leftist New Popular Front alliance with the centre-left Socialist Party and others, could hint at further difficulties ahead for the incoming PM if parties of the left again refuse to countenance a budget without rollbacks on the 2023 pension reforms. 

Historical bullets

MACRO ANALYSIS: Macro Developments Since Last ECB: General Resilience

Sep-10 15:20

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  • Developments over the summer have done little to push back on Lagarde's relatively hawkish signalling at the July press conference.
  • Economic indicators such as the PMIs continue to gradually improve, the unemployment rate is at all-time lows, and inflation remains very close to the 2.0% medium-term target albeit with core still a little above target.
  • The main takeaway is one of general resilience amidst trade policy induced uncertainty. 

 

FED: US TSY 17W AUCTION: NON-COMP BIDS $554 MLN FROM $65.000 BLN TOTAL

Sep-10 15:15
  • US TSY 17W AUCTION: NON-COMP BIDS $554 MLN FROM $65.000 BLN TOTAL

US: Trump On Truth Social: Russia-Poland

Sep-10 15:10

@realDonaldTrump
What’s with Russia violating Poland’s airspace with drones? Here we go!