In the stock market, a rebound is better than nothing. Especially after yesterday's sting. But today's recovery in Piazza Affari is not enough to erase the recriminations for the lost rally. Just look at what is happening in the stock markets, both on this side and on the other side of the Atlantic.
As often happens towards the end of the year, the Stock Exchanges are racing, driven above all by window dressing operations: the European ones are celebrating today the sixth consecutive session of increases and the American one, which awaits with trepidation the outcome of tomorrow's board of the Fed and the probable new injection of liquidity, it is the fifth consecutive day of progress.
For us, however, the honeymoon with the markets is over. The political uncertainty aroused by the improvident move by Silvio Berlusconi which forced Mario Monti to anticipate the government's resignation he broke the spell: not only for the Stock Exchange, but also for BTPs and for the spread, which measures the credibility and reliability of a country, even if Berlusconi pretends not to know it.
Tomorrow the annual Bot auction and Thursday that of the Btp will test the mood of the market, investors and savers. But the poison of uncertainty and above all that of populism was the worst spite that could be done to Italy. And the markets take this into account. Let's hope that voters won't forget about it when they go to vote in February.
