Goldman Sachs strategists see no catalyst to buy French stocks

Goldman's reluctance is a positioning signal as much as a view: a major sell-side desk publicly stating it lacks a reason to turn constructive suggests French equities are stuck in a wait-and-see holding pattern rather than facing outright bearish conviction. That distinction matters for allocators weighing France against other European exposure, since a missing catalyst implies flows may keep drifting elsewhere until one appears. What qualifies as that catalyst, and whether the stance shifts once it does, is the open question.