After Brexit and Trump, It’s Italy’s Turn to Keep Traders Awake
- Defeat for Prime Minister Renzi could lead to an election
- Banks are deploying more people to get ready for the aftermath
Gallo: Euro Zone Break Up Risks Rising Next 6-12 Months
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There’s an acrimonious campaign, a vote and then a cliff-hanger result. The routine is all too familiar for bond and currency traders.
After the shock of Britain’s Brexit referendum and Donald Trump’s U.S. presidential election victory, trading desks are readying for another sleepless night on Dec. 4 as they await the outcome of a ballot that again has the potential to disturb the political order. This time it’s in Italy, where a vote on curtailing the power of the Senate has turned into a judgment on Prime Minister Matteo Renzi’s leadership and the latest potential banana skin for investors.