Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Spain’s 23 July general election delivered a hung parliament in which the formation of a majority coalition government, or even a sustainable minority administration, is not assured. A significant underperformance by the centre-right Popular Party (PP) and the right-wing nationalist Vox means that the two parties combined seat total sits short of a majority. However, despite an overperformance by incumbent Prime Minister Pedro Sanchez’s centre-left Spanish Socialist Workers’ Party (PSOE), there is no guarantee that he will be able to secure the necessary support in parliament to win an investiture vote at the head of a leftist minority government. As such there is significant risk of sustained political instability with the risk of a second snap election in late 2024/early 2025 looming.
Full article PDF attached below:
Chart 1. 2023 Congress of Deputies General Election Result, Seats (Chg. From Nov 2019)
Source: resultados.generales23j.es, MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.