The Italian bond market may have sold off considerably in the last few days but, David Zahn believes, the economic fundamentals remain unchanged and Italy still looks relatively good value
It comes as no surprise we could be heading for a snap election in Italy - again. With the technocrat government struggling to form, it seems likely we will see fresh elections in September. According to the polls, however, it will again be Five Star and La Lega (The League) who are the two largest parties, which leaves things open and uncertain. The Italian bond market has sold off quite considerably but, in our view, the economic fundamentals remain unchanged and Italy still looks relatively good value. European markets start to rebound after Italy's 'encouraging' bond auction ...
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