Italian budget
Less Concern about Italy than Felt Yesterday
October 3, 2018
After Italy’s government had worried markets earlier by submitting a budget with a deficit of 2.4% of GDP, informed sources said that deficits would shrink after next year and settle back to 2.0% of GDP in 2021. A relief rally saw the 10-year sovereign Italian debt yield shed 13 basis points and Italy’s share prices […] More
Quarter-End Rush of Data, Italian Fiscal Concerns, and U.S. Supreme Court Drama
September 28, 2018
The new populist government of Five Star in Italy passed a stimulative budget, with a deficit equal to 2.4% of GDP and well above what Italy’s Euroland colleagues wanted to see. In response, the country’s 10-year sovereign debt yield leaped 33 basis points to 3.22%, while the comparable Greek sovereign debt yield went up 16 […] More
