If Italy is “fixed,” then why is this happening?
Italian 2Y Yield are almost 40bps higher than their opening lows this morning, and are now higher on the day as perhaps, just perhaps, investors figured out the new coalition government is more anti-establishment than the one Mattarella rejected…
Looks like it is time for the Italian ministry of finance to start buying BTPs again!!
Notably, Italian bond yields have normalized relative to US Treasuries this morning…
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