Italy’s Investors Laud Draghi’s Return to Keep Markets Calm
Bloomberg 2/3/2021
(Bloomberg) Italy’s markets might have their savior back.
The nation’s bonds and stocks surged after Mario Draghi, the former European Central Bank president who brought calm to the region’s markets, accepted a mandate to be the next premier-designate and to try and form a coalition. Investors hope he can usher in political stability after the collapse of the ruling coalition and utilize European Union funds to help the economy recover from Covid-19.
“He is really a known quantity for markets,” said Imogen Bachra, European rates strategist at NatWest Markets. “We know that he is pro-EU and in favor of the European project, which markets will take comfort in.”