France has run the biggest fiscal deficit in Europe, and the government has struggled to rein in spending. However the French economy also has strengths that may help it outperform its neighbors as Europe boosts military spending and the continent faces the uncertainty of US tariffs, according to Goldman Sachs Research. France’s GDP is forecast by our economists to expand 0.5% this year, compared with no growth in Germany and 0.8%...

 Subscribe wherever you get podcastsDownload Transcript As markets  – and the Fed – continue to grapple with tariffs, where is the opportunity for investors? Anshul Sehgal, Global Co-Head of Fixed Income, Currency and Commodities in Goldman Sachs Global Banking & Markets, discusses with Chris Hussey on the Goldman Sachs trading floor.

Europe’s major currencies strengthened significantly against the dollar in early 2025 as a worsening US economic outlook caused portfolio investments to diversify towards Europe and the UK relative to the US.  “We think dollar weakness is likely to extend — in large part because US policy shifts, including tariffs, have raised uncertainty and are likely to weigh on US economic growth, corporate earnings, and consumer sentiment,” says Kamakshya Trivedi, head...