Relevant:
- Italy's PM Renzi cedes defeat, plans to resign after decisive ‘No' vote in constitutional referendum
- Italian bourse CEO says there are 'colossal' short positions on Italy in advance of referendum
- Matteo Renzi's resignation temporarily 'frozen' by Italian president
- Forget "Brexit" - Referendum Looms in Italy; "Italeave" Increasingly Possible
- Far-right candidate concedes in Austria's presidential vote (ALL EYES TURN TO ITALY)
2016-12-05 — cnbc.com
U.S. equities closed higher on Monday, unfazed by a key vote in Italy which led to Prime Minister Matteo Renzi's resignation, as financials, technology and consumer discretionary stocks rose around 1 percent.
This is of course, self-perpetuating: if there's no crash, there's no reason to trade down. And the lack of any obvious market breakage after Brexit and Trump's victory has fed into that. But we expect the piper will yet be paid...
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