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Roberto82
Sep 26, 2022 2:46PM ET
'Putin's Effect' everyone? lol....
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Italian Bonds Fall, Stocks Rise as Meloni Bloc Wins Majority in Elections
© Reuters.
By Geoffrey Smith
Investing.com -- Italian BTPs led Eurozone bonds lower on Monday, after the victory of a right-wing bloc led by Giorgia Meloni secured a majority in Italy's parliamentary elections.
The election leaves Meloni's Brothers of Italy party as the largest in both the Senate and the Chamber of Deputies. As such, the next Italian government is likely to be a led by a party that has expressed sympathies in the past with the Fascist policies of former dictator Benito Mussolini.
Meloni had tempered her rhetoric during the election campaign and indicated that she will press ahead with economic policies required by the European Union to unlock tens of billions of euros in post-pandemic aid that will be necessary to rebuild the country's economy.
The yield on the benchmark Italian 10-year bond rose 12 basis points to 4.48% at the open, while the 2-year note yield - a more direct reflection of looming stress in Eurozone debt markets - rose only 10 basis points to 3.13%.
While the move was a sharp one, it came on a morning of general alarm in worldwide bond markets at the prospect of European policy cracking under the pressure of the ongoing energy crisis. The German 10-Year yield also rose by 7 basis points to 2.10%, while the 2-year note yield rose 5 basis points to 1.96%.
Italian stocks, by contrast, welcomed the result, which promises a broadly pro-business agenda from the next government. The FTSE MIB index opened up 0.2%, making it the second-best performing index in Europe.
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Comments (6)
Joe Rizzuto
Sep 26, 2022 6:51AM ET
thank god, the common sense movement has taken a stand in Italy!!
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Rcd72
Sep 26, 2022 5:11AM ET
can never work when populist are in charge, change direction faster than wind direction...
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Rcd72
Sep 26, 2022 5:09AM ET
silly heading...in Italy only Draghi was serious enough to drive a government for more than one year....
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Jan Buyle
Sep 26, 2022 5:05AM ET
Fascist are back in control in Italy... 1930s all over again... remember how that ended...
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marcus daily
Sep 26, 2022 5:05AM ET
the Left wing creating debt taking 150% of the GDP. Big problem. The citizens wanting to limit immigration to the country. (Italy got hammered by those fleeing from the middle east) things got out of control. You and other lefties must know this. “Italians first” , wow, actually taking care of your people first is “fascist”. Lefties also throw in that word “racist” utterly ridiculous. Whats fascist is lefties trying to rewite the Italian Constitution to allow the voting systwm to work for themselves. Now Thats fascist. Spund quite familiar doesnt it? Allow democratic left control the purse, you have sensless legislation that secures votes for themselves and increases debt and unpaid liabilities and allows recessions. Blocs geoups also prefers business autonomy. Thats not fascist! Liberal news media really taking it hard that people just want govt to leave them alone.
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Maximus Maximus
Sep 26, 2022 4:22AM ET
and so the fascists will destroy Italy too like bolsonaro in Brazil, trump in the US, putin in Russia, orban in Hungary, erdogan in Turkey...
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Cristiano Dangelo
Sep 26, 2022 4:22AM ET
Indeed…
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Alex Malmstrom
Sep 26, 2022 4:22AM ET
Not quite. It's the militant left-green parties that have and are still destroying the West! Go spew your marxist rhetoric somewhere else!
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Mystic_Owl
Sep 26, 2022 4:22AM ET
Orban in Hungary is calling for everyone to table. Its the stupid West & stupid Russia who have lost their minds.
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