Monti Says Market Shouldn’t Fear Political Turmoil in Italy
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Prime Minister Mario Monti said that investors shouldn’t expect the imminent demise of his government to lead to a political vacuum that will fuel market turmoil in Italy.
Italian 10-year bond yields jumped the most in four months today in their first day of trading since Monti said on Dec. 8 that he planned to resign after former Prime Minister Silvio Berlusconi withdrew support for the government. The yield rose 29 basis points to 4.82 percent, while the benchmark FTSE MIB stock index slumped 2.2 percent, in contrast with gains in Germany, France and the U.K.