CAC 40

Key insight

8,090 bounce lacks conviction — six consecutive weekly declines, elevated implied vol, and France's 2027 deficit budget standoff keep sellers in control above 8,200 resistance.

Rebounds to 8,090 after six straight weekly losses — CAC VIX at 52-week high 18.96 signals stress; France fiscal deficit above 5% GDP and hawkish Fed cap upside.

Main risk

France Fiscal Deficit & Budget 2027

PM Lecornu racing to cut deficit above 5% of GDP; bond spread widening risks repricing French sovereign risk and crushing CAC financials.