**Macron has publicly ruled out dissolving the National Assembly in the near term.** On September 24, 2026, he stated that a new snap election would add instability ahead of the April-May 2027 presidential vote and limit the incoming president's ability to secure a majority later. France's fragmented National Assembly, resulting from the 2024 snap vote, continues without a clear majority, forcing minority governments like Sébastien Lecornu's to navigate budget debates starting in early October 2026 and repeated no-confidence risks under Article 49.3. A dissolution remains possible under Article 12 until Macron's term ends, but the one-year post-2024 restriction has expired and recent Senate gains by the National Rally underscore shifting parliamentary dynamics. Traders weigh these constraints against potential budget failures or coalition breakdowns that could prompt Macron to act before the presidential transition.