France’s fragmented National Assembly, resulting from the 2024 legislative vote, continues to constrain government action amid budget negotiations and economic pressures including energy costs. President Macron, in the final months of his term, has shown reluctance to dissolve the chamber again before the scheduled April-May 2027 presidential contest, where polls consistently place National Rally’s Marine Le Pen and La France Insoumise’s Jean-Luc Mélenchon as the likely runoff contenders. Traders price low probability of a snap legislative election declaration by late 2026, reflecting constitutional timing rules that limit repeated dissolutions, the absence of recent dissolution signals from the Élysée, and incentives to avoid further instability ahead of the presidential vote. A post-2027 dissolution remains possible depending on the new president’s parliamentary position.