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GS See Markets Focusing on Policy Following Election Results

ITALY
  • Goldman Sachs write that the Italian election results were consistent with expectations and will likely result in the second largest parliamentary majority in Italy since WWII. GS now expect market participants to focus on policy, especially in the context of European integration and fiscal policy.
  • Policy uncertainty will be the markets' focus and will continue until the presentation of the budget and the fiscal deficit that the new cabinet will target in 2023. GS reiterate their view that the focus of market participants on Italy will be especially strong from mid October onwards.
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  • Goldman Sachs write that the Italian election results were consistent with expectations and will likely result in the second largest parliamentary majority in Italy since WWII. GS now expect market participants to focus on policy, especially in the context of European integration and fiscal policy.
  • Policy uncertainty will be the markets' focus and will continue until the presentation of the budget and the fiscal deficit that the new cabinet will target in 2023. GS reiterate their view that the focus of market participants on Italy will be especially strong from mid October onwards.