Why France is a warning sign for the markets
Axios · western europe
The good news about the epic shifts in global bond markets is that they mostly reflect economic fundamentals, not the kinds of panicky swings seen in a crisis.The bad news is that there's a risk the disruptions metastasize into a broader crisis in an era of fractured politics across major democracies.The big picture: Turmoil in the streets this week in France is the latest sign of hazards that await elected leaders who try to address yawning fiscal deficits head-on.They are squeezed between voters who want to maintain public benefit levels and tax levels and a bond market that is resetting lon
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