Italy-tracking ETF down more than 3% on the week
The iShares MSCI Italy exchange-traded fund EWI, -1.22% slid more than 1% on Friday as the country lurched closer to a snap election and the two ruling coalition parties resumed squabbling. The country-specific ETF is a popular way to invest in Italian equities. It has lost 3.2% this week and more than 7% so far this month.
Meanwhile, the yield on the 10-year government bond TMBMKIT-10Y, +18.29% rose to 1.82%, up more than 26 basis points since Thursday, according to FactSet data. Bond yields rise as prices fall. Investors are less comfortable with Italy's precarious fiscal governance than with the situation in other European Union countries, where government debt yields are negative.
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