Free Trial

Safe-haven Bunds and Treasuries sold off......>

ITALY
ITALY: Safe-haven Bunds and Treasuries sold off and the EUR rose on the news at
1631BST that we could yet get an Italian government with a less eurosceptic
Finance Minister, with 5-Star calling for controversial eurozone exit proponent
Paolo Savona to withdraw his candidacy for the position.
- Not easy to see that happening though without Lega support, and they have
continued to insist on eurosceptic FM Savona. Additionally, Lega will have one
eye on polls showing a surge in support for their party, giving them the chance
to come out on top in early elections.
- This could drag out, with PM-Designate Cottarelli reportedly agreeing with the
President Wednesday to wait and see whether a political government can be
formed. In the meantime, risk-on moves on the basis of 5-Star attempting to form
a government without Lega`s support may prove fleeting.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.