July 11, 2018 / 10:49 AM / a month ago

BlackRock cautious over Italian bond market - Italy chief strategist

MILAN (Reuters) - BlackRock (BLK.N) remains cautious on Italian government bonds, as investors wait to understand whether the position of Economy Minister Tria on economic policies are shared by the coalition government, a senior official for the group said on Wednesday.

FILE PHOTO: The BlackRock logo is seen outside of its offices in New York City, U.S., October 17, 2016. REUTERS/Brendan McDermid

Bruno Rovelli, BlackRock’s chief investment strategist for Italy, said the country’s bonds are now in “no man’s land”, adding that it would be important for investors to see the content of the upcoming budget law.

Rovelli said that the current “wait-and-see phase” of the market would not last more than three or four months.

Reporting by Elvira Pollina, editing by Francesca Landini

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