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Bloomberg
One of Europe’s riskiest bond bets is turning into a telltale sign of how much faith investors have in the central bank’s ability to engineer a smooth recovery out of the pandemic.
Italian benchmark yields are near a six-month low and the government is so flush with cash that it canceled last week’s debt auction. The market is beginning to look like a crowded trade, with the number of outstanding positions in bond futures at the highest since March.
It’s the latest evidence of the bullishness that’s swept across European markets.