It may be a while before the fog lifts on Italy The Italian economy was already looking rather parlous at the start of this year, with global bodies like the International Monetary Fund, World Bank and European Commission all predicting almost negligible growth rates. Even the January forecast from Italy’s official statistics agency suggested that GDP would increase by just 0.2 per cent over the course [...]
Ousting Sajid Javid could limit Boris Johnson’s options Ousting Sajid Javid could limit Boris Johnson's options Any time a Prime Minister reshuffles his or her cabinet, there are bound to be disappointed ministers — or ex-ministers — turfed out from a job they enjoy in a system that can sometimes prize loyalty over ability. But last week’s surprise resignation of Sajid Javid, the UK’s short-lived chancellor, could actually limit Boris Johnson’s [...]
Italy’s return to political chaos leaves investors in wait-and-see mode A furious global hunt for yield has helped to spark a significant repricing of fixed-income markets. The consequences of last week’s major market moves were by turns high-profile and obscure. One oxymoron-inclined senior White House adviser to President Donald Trump insisted that the inverted curve that appeared briefly in US Treasury yields was in fact [...]
Italy’s stock market sell-off could force its populist politicians to change course October 9, 2018 The start of this week witnessed yet another spike in Italian bond yields, as the country’s coalition government continued to grapple with the details of its 2019 budget. Political leaders also struggled to deliver a consistent message to investors, who have grown increasingly concerned about the state’s future spending and borrowing plans. The depth of [...]