DoubleLine Paper: Paris and Berlin in Crisis as Washington Takes Up Trump 2.0 Agenda

TAMPA, Fla., Dec. 23, 2024 /PRNewswire/ -- In a new research paper, DoubleLine Global Bond Portfolio Manager Bill Campbell foresees durably elevated risk premia on the sovereign debt of France and downward pressure on the euro as the two largest member states of the European Union struggle with political disunity over fiscal dilemmas ahead of serious challenges from Donald Trump's return to the White House. 

"Since the formation of the European Common Market in 1957 and its transformation into the European Union in 1993, Germany and France have formed the core of the European project," Mr. Campbell writes. "The continent's first- and second-largest economies have entered fiscal and governing crises on cusp of the U.S. under the second presidency of Donald Trump confronting the EU with strategic challenges on commercial, fiscal and defense fronts. I will survey the states of play in France and Germany, characterized by political limbo if not outright paralysis, in a context of internal economic anemia and fast-approaching yet still incipient challenges from the next administration in Washington."

To read the research paper, titled "Terrible Trifecta: Paris and Berlin in Crisis as Washington Takes Up Trump 2.0 Agenda," click on this link: https://doubleline.com/wp-content/uploads/Terrible-Trifecta_Paris-Berlin-Washington_12-23-2024.pdf 

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SOURCE DoubleLine