election: Surveys signal opponents spearheaded by Five Star could narrowly defeat Renzi in a referendum on constitutional reform on Dec. 4, potentially triggering an election in early 2017, according to Bloomberg. Italian government bonds were hit particularly hard last week as yields rose around the world in the wake of Donald Trump victory in the U.S., reflecting investors concerns that the upset will add impetus to Five Star. With the populists efforts to topple Prime Minister Matteo Renzi gaining traction, investment funds are trying to get a handle on the policy plans of the anti-establishment party. The party, which wants a referendum on Italy euro membership, is running neck-and-neck with Renzi Democratic Party in polls and already seized control of city halls in Rome and Turin this year. function global function ad Code dimensions id 1 0 2 1 10 strategy targeting targeting Modifiers ; ; window ; We re taking Five Star more seriously, we ve been looking at their program -- even if we have been focusing much more on Trump program, said Andrew Cormack, London-based global portfolio manager at Western Asset Global Management Ltd, which manages assets worth more than 440 billion. And there is a concern over the lack of experience in the Five Star party, Trump rallied his supporters on Nov. 8 with vows to drain the swamp of establishment corruption in Washington. The repercussions of Italy leaving the euro area would be huge.
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