Ruining supply


/* /*]]>*/ A move by the Bank of Italy to tighten up bond regulation in the wake of the Parmalat debacle has left Italian fixed-income investors fuming. In effect, they have been prevented from buying new international bond issues as a result of the central bank’s efforts to protect retail investors.

Since January, Italy’s central bank has chosen to fully enforce Article 129 of the banking law, which controls the distribution of foreign securities in the country, in a bid to safeguard retail

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