Rampant Italian Assets Emerge as Post-Referendum Winners: Chart

Since Italian politics were thrown into chaos by the rejection of Matteo Renzi’s constitutional reform and his resignation, the country’s stocks and bonds have been the Group of Seven’s best performers. While the securities underperformed in the run-up to the vote, signs of stability in the nation’s banking and political system in its aftermath have prompted a turnaround. The FTSE MIB index, also boosted by optimism that European Central Bank policy will prove supportive, has gained almost 10 percent since the referendum, the best performance among global equities, while Italian bonds have also jumped, with 10-year yields falling to the lowest level in more than a month.

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