France's next legislative election remains unlikely to be called imminently, with trader pricing reflecting Macron's completed term, a fragmented National Assembly, and focus on the April-May 2027 presidential contest. Recent polls show Marine Le Pen leading first-round voting at 35-37% and advancing to a runoff against Jean-Luc Mélenchon in tested scenarios, underscoring polarization and a weakened center after Macron's tenure. Student protests, budget negotiations under Prime Minister Sébastien Lecornu, and antisemitism allegations against National Rally figures have added volatility without triggering dissolution signals. Left primaries produced Raphaël Glucksmann as the social-democratic candidate, while center-right figures like Édouard Philippe and Gabriel Attal seek alliances. No scheduled parliamentary votes or official statements indicate an early legislative call before year-end, consistent with historical patterns of avoiding snap elections near presidential cycles.