Italian politics are strange, as we know; there have almost as many prime ministers in Italy since the end of WW2 than the number of years since then. A year and a half ago Mateo Salvini was ousted, to be succeeded by Conte, whose government also fell a while ago. Now a new prime minister is taking office, although he’s already well known in Europe, especially in the finance world.

Super Mario is back, and the market continues to show a vote of confidence in him as BTPs push higher, with yields falling to a record low during the European morning today. The ECB also has a helping hand in all of this, but the market is certainly liking the idea of Italian politics having a familiar figure at the helm.