Danske Daily - Letter From Italy

Published 10/22/2018, 02:23 AM

Market movers today

With no big data in the calendar today, markets will continue to focus on Italy, Brexit and the coming ECB meeting on Thursday, see preview .

Today around noon, the Italian government is expected to respond to the EU letter last week in which the European Commission called the breach of the budgetary rules ' unprecedented in the history' of the European Union, see Reuters . We expect to see some relief in Italian markets today after the EU Commissioner Pierre Moscovici said ' that the EU wouldn't interfere in the new government' economic policies '. Although Moody's downgraded Italian debt one notch on Friday to Baa3, it set the outlook assessment on 'stable', which eased the fears of Italy being downgraded to junk. For more on Italy, see also Harr's View , 21 October 2018.

To read the entire report Please click on the pdf File Below..

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