As noted initially, Italian exit polls are notoriously inaccurate. Sure enough, here is some data which directly contradicts initial pro-statist results:
- BERLUSCONI LEADS IN KEY SENATE RACES, IPR PROJECTION SAYS
- BERLUSCONI LEADS IN SENATE RACE 31% TO 29.5%: RAI PROJECTION
- BERLUSCONI COALITION LEADING SENATE IN SICILY: LA7 PROJECTS
The market may have to ask some questions, after having shot repeatedly already. And it gets better:
- Grillo Five-Star movement would be largest single party in Senate based on Rai projection
A renegade, counter-establishment comic to head it all. What can one say but... Italy.
And EURUSD continues to weaken and Italian bonds have given up their post-poll gains...
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Charts: Bloomberg