August 08, 2022 05:47 GMT
- "While we acknowledge that ongoing fiscal transfers support a more constructive relationship between Brussels and Rome than in 2018, the uncertainty linked to the elections and the ensuing policy choices still make for a challenging backdrop."
- "Contrary to the Spanish PMIs, Italians PMIs weakened notably in July... and our economists expect delays in the implementation of Recovery Fund reform to weigh on Italian growth."
- "It is unclear whether such level of ECB balance sheet support will be sustained."
- GS targets 125bp with a stop at 90bp and entry at 100bp.