BofA Global Research Fund Manager Survey: Recession Concerns Lowest Since June 2022
— Big Jump in Emerging Market Equity Holdings By Vicki Schmelzer NEW YORK (MaceNews) – Global investors polled in February were decidedly less fearful of recession and more upbeat about world growth, but were taking a wait-and-see attitude towards inflation, according to the findings of BofA Global Research’s monthly fund manager survey, released Tuesday. More […]
Italy Faces Showdown on ESM Reform; Financial Stability Risks Ahead
– Market volatility set to rise, ruling parties at odds – EZ banking union progress could come to a halt By Silvia Marchetti ROME (MaceNews) – The rising prospect that Italy will reject proposed reform of the European Stability Mechanism could raise new doubts about European integration and the stability of the ruling center-right coalition. Sources from […]
Italy Keeps New USD-denominated Bond Issuance on Hold for 2023 — For Now
– Current Market Conditions Unfavorable, Coalition Sources Say By Silvia Marchetti ROME (MaceNews) – Italy is holding off for now on new issuance of US dollar-denominated bonds as it sees market conditions, especially the euro’s weakness, as unfavorable, according to ruling coalition government sources. In a shift from past practice, with the government laying out […]
<strong>Italy’s EUR35 Billion Budget Law to Be Almost Totally Deficit-Funded; More Funding Likely Needed in Q2</strong> –<strong> Sources</strong>
–Flat tax for VAT-holders raised to EUR 85,000 income –Measures to cushion impact of energy costs are the biggest share of spending –‘Citizenship wage’ for jobless slashed; retirement age cut By Silvia Marchetti ROME (MaceNews) – Italy’s government budget plan for 2023 is set to total EUR 35 billion, including pro-growth measures and subsidies to […]
Italy’s Rightist Government Aims to Soften EU Fiscal Rules, Sees ‘Reinforced Supervision’ Unacceptable – Sources
By Silvia Marchetti ROME (MaceNews) – Italy’s newly appointed rightist government will seek to negotiate softer fiscal rules at the European level to take into account ‘country-specifics’ for more lenient and longer adjustment paths, according to ruling coalition sources. Officials are worried that the new rules concerning the reform of the Stability and Growth pact […]
Italy’s Lower Growth Forecasts Limit New Government’s Spending Leeway
Analysis: Choice of Italy’s Next Finance Minister Key for Incoming Government’s Credibility, ‘Fight’ Against ECB Rate Hikes Ahead
–ECB’s Panetta a possible candidate By Silvia Marchetti ROME (MaceNews) – The choice of who will be Italy’s next economy and finance minister will be key in determining the winning center-right coalition’s credibility on world markets, and its power in campaigning against more European Central Bank rate hikes. The center-right alliance, which includes the far-right […]
Italy To Issue Shorter Maturities in Q4 to Offset Higher Borrowing Costs; USD Issuance on Hold – Govt. Sources
–Weak Euro Means ‘Not Good Moment’ for USD Debt By Silvia Marchetti ROME (MaceNews) – Italy plans to issue more short- and medium-term debt in the fourth quarter to cope with surging borrowing costs, and U.S. dollar debt issuance is on hold, according to outgoing ruling coalition sources. The new debt securities will have 3-, […]
Italy’s Rightists Election Victory Leaves Shaky Financial Outlook — Explainer
By Silvia Marchetti ROME (MaceNews) – The right-wing coalition victory on Sunday will likely lead Italy to a super-accommodative, risky economic and fiscal stance as parties forming the alliance have all pledged tax cuts and more spending to support the economy. With final results yet to be released, the far-right Brothers of Italy group won […]
White House and Other Schedules for Monday, Sept 19
White House and Other Schedules for Monday, Sept 19 WASHINGTON (MaceNews) – The following are Monday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. data and Federal Reserve events: COMPREHENSIVE TRIP GUIDANCE AND PRESS SCHEDULE FOR LONDON, UNITED KINGDOM In the morning, the President and the […]