Meloni Gets Warning Light as Italian Retail-Bond Demand Wanes
- Treasury expected lower demand, but carried on regardless
- Public-finance outlook is darkening as debt path turns
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A warning light for Italy’s finances just flashed for Premier Giorgia Meloni after her government pressed ahead with a debt sale to consumers even though it knew demand would weaken.
The Treasury held the BTP Valore offering this week despite anticipating less uptake than before because it faced immediate cash needs and didn’t want to tap institutional investors instead, according to people familiar with the matter. They declined to be identified because discussions are confidential.