Italy ‘no’ vote could spark EM risk aversion
Even a ‘yes’ vote in the constitutional referendum this weekend would still leave the country facing a shaky banking sector and rising populist sentiment, say fund managers.

A ‘no’ vote in Italy’s constitutional referendum this coming Sunday would likely spark a short-term ‘risk off’ move by global investors, including in emerging markets, warn fund managers. And that may be the least of their concerns, in light of banking-sector problems and a rising tide of populism in Europe.
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