Italy: Governing coalition formed – Danske Bank

Sandeep Kanihama FXStreet Contributor

Danske Bank analysts note that Italy's President Matarella tasked Prime Minister Conte to form a new governing coalition between the Five Star Movement and the centre-left Democratic party.

Key Quotes

“The deal reduces the risk of another budget clash with Brussels over the 2020 budget and rating downgrades. Italian yields cheered the avoidance of snap elections with the 10Y yield breaking below 1% for the first time ever. A final hurdle still needs to be cleared by getting support for the tie-up amid Five Star members in an online vote.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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