Italy Bonds Gain as Populists Take Power But Skepticism Lingers
- Two-year Italian securities lead advances across maturities
- SocGen recommends using relief rally to add short positions
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Italian bonds climbed for the third day, extending a relief rally after the nation’s two populist parties agreed to form a government.
Two-year securities led gains across the curve as the Five Star Movement and the League managed to piece together a team after their original pick for finance minister was vetoed. Giuseppe Conte, 53, a law professor with no political experience, will be sworn in as prime minister along with his cabinet later Friday.