FRANCE HAS NOT HAD ITS TRUSS MOMENT: IT IS LIVING THROUGH THE PRELUDE.
September 6, 2026ALL EMERGING NOW It took forty-nine days for London to discover a truth that emerging markets have known forever. Not a political crisis, but an arithmetic crisis. We continue to misread the story of Liz Truss — which was not the punishment of an unstable government. Markets care remarkably little about instability in itself. They…