ECB’s Moulin says markets are worried about France

A central bank governor acknowledging market anxiety without naming the source is itself the signal: it leaves the diagnosis open, which is often more unsettling than a specific complaint. The dual role matters, since Moulin speaks both as a rate-setter and as the steward of French financial stability, so the remark carries weight beyond routine commentary. What is worth watching is whether this stays a generic expression of concern or is followed by more concrete identification of the pressure points — and whether other ECB voices echo it.