Italian yields lower, FTSE MIB higher for third day
Voters in Italy have the chance to reform a messy political system on Sunday in a referendum but the measures appear headed for defeat, in part to dissatisfaction with the economy.
Polls put the No side, which rejects the changes, ahead 40% with 37% planning to vote Yes. The remainder are undecided and could easily swing the vote.
But the market isn't concerned about the volatility and the potential that PM Matteo Renzi could resign if he loses.
The FTSE MIB is poised to finish slightly higher on Friday to cap off a four-day 5.6% rally. Yields on Italian 10-year notes were down 14 points Friday to a three-week low.
