Italy’s Investors Laud Draghi’s Return to Keep Markets Calm
- Bond yields slide toward record lows, stock market rallies
- Former ECB chief Draghi helped save Italy debt market in 2012
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Italy’s markets might have their savior back.
The nation’s bonds and stocks surged after Mario Draghi, the former European Central Bank president who brought calm to the region’s markets, accepted a mandate to be the next premier-designate and to try and form a coalition. Investors hope he can usher in political stability after the collapse of the ruling coalition and utilize European Union funds to help the economy recover from Covid-19.