Macro Strategy Views Podcast: The happy days are over for Italy

Macro Strategy Views - A podcast by Danske Bank

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In our weekly podcast, Macro Strategy Views, we focus on topical macro and market themes targeting investors and trading corporates. Today, we focus on Italy and ECB forward guidance. Thomas Harr, Global Head of FI&C Research, chairs today’s podcast and our eurozone economist, Piet P.H. Christiansen, joins him. There are several worrying issues with the Italian budget, but the devil is in the detail. We expect Italian debt to be volatile at least until 15 October, when we should get more clarity on the budget. The ECB saved Italy in 2014/2015 but they will not save them this time. We discuss whether the ECB’s forward guidance has in fact changed following recent speeches.