The VP Blog

A blog about financial markets and the VP investing framework

Take Care To Read The Writing On The Wall in Italy

Events of the last week have once more brought Italy back into the headlines. The decision of former Prime Minister Silvio Berlusconi to deny support to the technocratic government of Mario Monti sent alarm bells ringing in markets across the globe. But the excitement was short lived. Last Thursday Italy sold 3.5 billion euros of a new three-year bond at 2.50 percent, the lowest yield on similar-maturity debt since October 2010 and down from the 2.64 percent paid on 14 November.

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The Czech Economy is stuck in Limbo

While a good deal of investor attention has been focused on the US of late, in the process relegating the EU debt crisis into clear second place, CEE economies have been largely subjected to benign neglect. Arguably this is a mistake, since a lot can be learnt from following the evolution of these economies, many of which are undergoing a rapid transition from being emerging prospects to over-mature stars of yesteryear. The unique demographics which are to be found in the region make them a fascinating laboratory for what might happen in other parts of the world, most notably China, as we move into the 2020s.

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