French President Emmanuel Macron's second term runs until May 2027, with constitutional term limits barring a consecutive third run. He has repeatedly stated his intention to complete the mandate and exit politics afterward, including a public confirmation in April 2026. Persistent fragmentation in the National Assembly, repeated prime ministerial turnovers, and no-confidence pressures since the 2024 snap elections have prompted occasional opposition calls for an early departure. However, Macron has rejected resignation demands and maintained continuity through diplomatic and domestic initiatives into mid-2026. Trader consensus reflects these structural and personal factors, pricing an exit before the June 30, 2026, horizon at minimal levels. Near-term variables include budget negotiations and further parliamentary maneuvers that could test government stability without altering the timeline for presidential succession.