Italy Exit From Euro Not on The Agenda

Italian Finance Minister Giovanni Tria said that there was no discussion about his country leaving the euro and that the government would block any market conditions that would “push toward an exit” in a weekend newspaper interview. Italian stocks and bonds rallied this morning following the reassurances, with the yield on two-year government debt falling more than 50 basis points and the FTSE MIB Index gaining more than 2 percent. There was less good news from economic data, which showed that industrial production had a surprise decline of 1.2 percent in April. 

Source: Bloomberg