Coalition negotiations between the CDU/CSU and SPD continue to shape the 2027 presidential race, as the two parties hold a projected majority in the Federal Convention set to convene on January 30. Traders see an open field because no candidate has secured cross-party endorsement, with names such as Ilse Aigner, Karin Prien, Julia Klöckner, and Boris Rhein trading in a narrow band amid internal party discussions and calls for a swift decision before late October conferences. The largely ceremonial post’s selection process favors consensus over competition, keeping probabilities clustered while AfD plans for its own nominee remain secondary. A formal joint announcement or shift in state-level delegate counts could quickly consolidate support and separate frontrunners.