The next step in the global populism trend could be felt December 4. This is when the Italian referendum to change the constitution, a measure supported by the political establishment, will be voted up or down. A Moody’s report notes that rejecting the referendum could “contribute to global financial market uncertainty, and greatly add to the concerns surrounding the restructuring of the Italian banking sector.” A Deutsche Bank report, however, only handicaps a 40% chance of the vote succeeding. To various degrees, bond markets are already moving in anticipation of a rejection of the measure, but the real concern...
Italian Referendum Next Test Of Global Populism, But This Time Its Priced In
Mark Melin
Premium Members Get EVEN MORE VALUE
Subscribe to Hedge Fund Alpha
Insider Strategies and Letters to Shareholders from the Top Hedge Funds and Maximize Your Portfolio Growth with Hedge Fund Alpha
Don’t have an account?
Subscribe and get an extra 20% off annual with code LETTERSMark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.
