2 months ago
BNN Bloomberg
No,” said Annalisa Piazza, fixed-income research analyst at MFS Investment Management, adding risks included further aggressive ECB rate hikes or a “policy mistake” by the new government. The latter is a perennial problem that keeps Italian bond investors on their toes. ECB officials have said they plan to discuss this so-called quantitative tightening at their Dec. 15 meeting, with some pushing for a start in early 2023. That has included flexible reinvestment of its maturing bonds, but Citigroup only expects the measure to be used sparingly next year. He holds an underweight position in Italian bonds.
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