Italy – The crisis is coming
The adjustment on the upside is not over on Italian rates. The 10 year bond’s rate is converging to 3%. The spread with the German 10-year rate is now circa…
Philippe Waechter's blog
North vs South in Italy
This map reflects questions about the sustainability of a government when constituents of it belong to regions and communities that are in a historical conflict. A real source of uncertainty…
Italy, Oil – My Monday column
Judging by the Italian president Sergio Mattarella’s (justified) refusal to approve a government that would have been dominated by the League with its aversion to Europe and its institutions, the…
Italy – Conte resigns but political imbroglio and uncertainty persist
The Italian situation becomes more complex after the resignation of Prime Minister Guiseppe Conte. The Italian president didn’t validate the government Conte has presented to him. In this possible government,…
Italy again
The lull in Italy after Conte’s appointment was short-lived. The 10-year rate is up sharply while the German rate retreats. The spread is increasing. The Salvona hypothesis for finance minister…
Emerging market crisis – the example of Turkey
Co-authored with Zouhoure Bousbih The dollar has been gaining ground since mid-April, with investor perception that the Fed would take stronger and swifter action than expected, and this raises a…
Lower uncertainty after Conte’s appointment
Giuseppe Conte’s appointment is the first reduction of uncertainty in Italy. The 10-year rate falls back this morning and the spread with Germany is narrowing. But this is only a…
Giuseppe Conte: The New Italian Prime Minister – 6 remarks
Giuseppe Conte has been appointed Prime Minister by Italian President Sergio Mattarella. The next step is the formation of the government that will reflect the balance of strength between the…