Contagion risk is back in Europe — but this time it's not Greece or Portugal. It's France.
14 years ago, the problem was the periphery. Today, the pressure point is right at the core. French bond yields have surged in recent weeks, dragging down the euro and making life harder for the ECB.
When the core cracks, central banks have fewer tools and less room to maneuver. The $EUR weakness isn't just a currency story — it's a signal that investors are repricing risk at the heart of the eurozone.
This isn't 2011. But the playbook from back then? Still worth remembering.
14 years ago, the problem was the periphery. Today, the pressure point is right at the core. French bond yields have surged in recent weeks, dragging down the euro and making life harder for the ECB.
When the core cracks, central banks have fewer tools and less room to maneuver. The $EUR weakness isn't just a currency story — it's a signal that investors are repricing risk at the heart of the eurozone.
This isn't 2011. But the playbook from back then? Still worth remembering.