The Mumble: Italy should make its intentions clear

It’s pretty astonishing that Italy is not only still rudderless politically but facing another €50bn odd to raise over the next two years and yet markets don’t appear to have noticed. But it would be unwise for any issuer to allow itself to become too comfortable with investors’ seeming ability to blithely ignore the bleeding obvious. If Italy were to show that it has a game plan to accommodate the €50bn, it would help insulate itself from any further shocks to the market.