Support for Italian PM Drops Over Deteriorating Economic Outlook
–Little fiscal room for tax cuts — Govt to raise yearly debt issuance to €350bln By Silvia Marchetti ROME (MaceNews) – For the first time since her appointment as Italian prime minister one year ago, support for Giorgia Meloni is dropping as voters fear she will not deliver promised tax cuts amid a deteriorated outlook […]
BofA Global Fund Manager Survey: Higher Inflation Worries at Odds with Reduced Recession Fears and US Rate Cut Anticipation
By Vicki Schmelzer NEW YORK (MaceNews) – Inflation concerns spiked in September and were at odds with lower recession fears and increased anticipation of Federal Reserve rate cuts, according to the findings of BofA Global Research’s monthly fund manager survey released Tuesday. In September, a net 69% of fund managers looked for lower global consumer […]
Italy Aims for Tax Cuts for Low Earners in €30 Bln Budget Law; Scarce Resources and Thorny Spending Review Complicate Scenario
—Potential EU delay of new fiscal rules poses more trouble ahead By Silvia Marchetti ROME (MaceNews) – Italy’s government is working on a EUR30 billion budget plan for next year in a bid to cut income taxes for low earners but officials warn that resources are very limited and they worry that a potential delay in the […]
Italy’s Likely Rejection of the ESM Reform Would Leave Bank Contagion Risk Unaddressed in Euro Bloc – Italian Opposition Sources
–Italy Is Lone Holdout Opposing New Rules to Manage Bank Crisis By Silvia Marchetti ROME (MaceNews) – Italy’s likely rejection of the European Stability Mechanism reform plan, with its common backstop credit line for failing banks, leaves the Eurozone at risk of financial meltdown if a big bank falters, warned Italian opposition sources. The ruling […]
BofA Global Research Fund Manager Survey: Global Investors Add To Equity Shorts, Pare Bonds and Cash Longs in June
— Investors Eye Improved World Growth Outlook, Fret ‘Big Tech’ Longs, AI/Tech Bubble By Vicki Schmelzer NEW YORK (MaceNews) –Global investors added to equity short positions and pared bond and cash long positions in June, with the latter driven by an improved world growth outlook, according to the findings of BofA Global Research’s monthly fund […]
Italy’s PM Eyes Stronger US-Style Presidential System but Road Uphill
—Complex approval process ahead, potential referendum risky for Meloni By Silvia Marchetti ROME (MaceNews) – Italy’s rightist prime minister Giorgia Meloni wants to pass a key constitutional reform to boost powers of the head of government with the possibility of introducing a US-style direct election of the country’s leader, according to ruling coalition sources. It […]
Italy Risks Losing Up To €44 Billion in EU Pandemic Aid, Unable to Use Funds
-Bureaucracy, delays, technical issues are main cause -PM Meloni wants to re-negotiate new targets with Brussels By Silvia Marchetti ROME (MaceNews) – Italy’s rightist government risks losing some EUR 44 billion of European direct pandemic aid, and potentially even more, as it struggles to use all the money within set targets and timelines. Both opposition […]
Italy Aims to Boost Share of Debt Held by Domestic Retail Investors, Keeps Dollar Debt Issuance on Hold, Government Sources Say
By Silvia Marchetti ROME (MaceNews) – Italy’s nationalist government plans to increase the share of public debt held by domestic retail investors as it looks to offset fading European Central Bank purchases and as dollar-denominated debt issuance remains on hold, according to ruling coalition sources. “The goal is to nationalize as much as possible our […]
Major Central Banks to Boost Dollar Liquidity to Calm Market Jitters over Bank Failures
By Max Sato (MaceNews) – Six major central banks said on early Monday Tokyo time that they are enhancing their joint efforts to provide ample funds to the financial markets under the scheme launched in 2009 in the aftermath of a global credit crunch, as investor concerns are growing over the health of financial institutions […]
Italy’s ‘New Isolation’ on EU Stage To Penalize Battle for Softer Fiscal Rules – Sources
Rome has yet to propose changes to investment plans, EU reform of the stability pact By Silvia Marchetti ROME (MaceNews) – The rise of a rightist government has led to Italy’s isolation on the European stage following clashes with Germany and France on a revision of the EU economic governance, squandering the hard-gained reputation of […]