HSBC Sees No Good Outcome for Italy’s Bonds From Renzi Vote

  • Nation is due to vote on constitutional reforms on Dec. 4
  • Bank says bonds would underperform Spain’s on ‘No’ result

With more than two months to go before a referendum on constitutional changes that may seal the future of Italian Prime Minister Matteo Renzi, Europe’s biggest bank has already given its verdict: whatever the result, the country’s bonds will suffer.

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