Complacency sky high as Italian election looms

An awful lot of capital and financial market participants are relaxed about Sunday's Italian election, predicting that coalitions and deadlock will remain a staple of Italy's political system. But others urge caution — and hedging — while the going is good for fear that complacency is taking hold, writes Costas Mourselas.

  • By Costas Mourselas
  • 01 Mar 2018

“[We are] very uncomfortable with regards to the tiny risk premia built into equity, rates, credit and FX, and we insist on hedging the event,” said Antoine Porcheret, equity derivatives strategist at BNP Paribas in London.

The election will pit old favourites like Silvio Berlusconi’s Forza Italia party ...

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