NPL investors set to shrug off Italian politics

By Owen Sanderson
05 Jun 2018

Buyers of Italian non-performing loans are likely to shrug off issues associated with the country’s controversial new government, according to market participants at Global ABS. But their bankers may be less fortunate, with financings marked wider and losses likely to be booked.

The government, formed last week as a coalition between the Five Star Movement and the Northern League, has markets worried — though Italian government bonds rallied when the government formed, as the coalition toned down its most strident anti-euro rhetoric and removed its demand for a mechanism to ...

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