By Geoffrey Smith
Investing.com — Italian BTPs led Eurozone bonds lower on Monday, after the victory of a right-wing bloc led by Giorgia Meloni secured a majority in Italy’s parliamentary elections.
The election leaves Meloni’s Brothers of Italy party as the largest in both the Senate and the Chamber of Deputies. As such, the next Italian government is likely to be a led by a party that has expressed sympathies in the past with the Fascist policies of former dictator Benito Mussolini.
Meloni had tempered her rhetoric during the election campaign and indicated that she will press ahead with economic policies required by the European Union to unlock tens of billions of euros in post-pandemic aid that will be necessary to rebuild the country’s economy.
The yield on the benchmark bond rose 12 basis points to 4.48% at the open, while the note yield – a more direct reflection of