France's minority government under Prime Minister Sébastien Lecornu operates in a fragmented National Assembly without a stable majority, following the pattern of repeated no-confidence motions and reliance on Article 49.3 to advance legislation such as the 2026 budget. Lecornu was appointed in September 2025, resigned briefly amid coalition tensions, and was reappointed days later; his administration later survived multiple confidence votes and secured budget passage in early 2026 through procedural maneuvers and concessions. Trader sentiment on his tenure reflects ongoing structural pressures from opposition parties across the spectrum, limited legislative leeway ahead of the next budget cycle, and Macron's presidential term ending in 2027, all of which heighten risks of further government instability or replacement before scheduled events like parliamentary sessions or fiscal deadlines.