These are the markets’ reactions to Meloni’s victory

Frankfurt The capital market coped well with the shift to the right in Italy on the day after the election: bonds reacted, but the euro recovered quickly after a brief slump and stocks initially even rose on Monday. “The big panic didn’t materialize,” says Daniel Lenz, head of interest rate market strategy at DZ Bank. “The market reacted relatively calmly because everything went as expected.” In the longer term, however, he fears problems for Italian government bonds.