@RobinBrooksIIF What if the ECB committed to sell unlimited 5yr Italy CDS at say 150bp & then the private sector would run the basis / curve risk in cash market with its balance sheet.
Current spending plans of all three parties are quite tight.
Conservatives: balance current budget within 3 years.
Labour: balance within 5 years.
Lib Dem: 1% of GDP surplus on current spending except in a downturn.
1/2
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