The BTP/Bund spread is likely to be a key roadblock to the ECB pivoting too hawkish. Italy’s fiscal health remains the Achilles Heel of EU stability. Recent EUR strength is understandable given LaGarde’s hawkish presser, but BTP vulnerability ought to be a mitigating factor.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.