Welcome to our crazy world! The seemingly bads news from the recent Italian elections lead to lower yields ... Down Under! From Bloomberg: "Italy’s voters handed former leader Silvio Berlusconi a blocking minority in the Senate, sparking concern that turmoil in Europe will undermine prospects for a global economic recovery […] “When there is a bit of a wobble globally, Australia becomes a beneficiary again in a world where there are fewer AAA nations,” said Su-Lin Ong, Sydney-based head of Australian economic and fixed-income strategy at Royal Bank of Canada" (*)
(*) Kristine Aquino & Wes Goodman: “Berlusconi Boosts Demand for Bonds Down Under: Australia Credit”, Bloomberg, 28 February 2013.
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