Italian ‘Yes’ Vote Won’t Solve Nation’s Problems, Investor Says
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Pins reading 'To change, a Yes is enough' are displayed at a stall as Matteo Renzi, Italy's primer minister, not pictured, speaks during a Democratic Party and referendum campaign rally in Rome, Italy, on Saturday, Oct. 29, 2016. Renzi is betting that a Dec. 4 referendum on political reform will give him the backing needed to push through his economic agenda.
Photographer: Alessia Pierdomenico/BloombergA win for Italy’s Prime Minister Matteo Renzi in next month’s constitutional reform referendum won’t necessarily lead to a straightforward, positive outcome for the nation’s bonds, according to ABN Amro Private Banking.
Italian sovereign securities tumbled in the wake of Donald Trump’s surprise victory in the U.S. presidential elections this month, on concern that the nation could be next in line when it comes to anti-establishment movements. The same could happen regardless of the outcome of the Dec. 4 vote.