Spanish politicians reduce yield % of IBEX 35

IBC ESP35 IBC

Fear, unconfidence, uncertainly and anothers negative sentiment have come back?


Since 2016 we seeing a negative spread between Spanish index #Ibex35 and another European indexes like DY1! #Dax30 FX1! #EuroStoxx50 FY1! #Stoxx600

December 21st, 2015 starts the negative performance of the index (Starts RED BASELINE on daily chart), one day after the mixed results in that first elections.

Almost one year to elect a Mariano Rajoy as a president after many elections and hours to discuss to "nowhere" in parlament congress, finally October 29th 2016, Rajoy got the votes to have investiture.

On 14 June 2017, FIRST motion of no confidence in the government of Mariano Rajoy requested by Podemos after a string of corruption scandals, was defeated 170 to 82, with PSOE abstention.

Then came the Catalunian crisis on second semester of 2017 and STILL continues, with many former funtionaries in jail, anothers in exile like Carles Puigdemont former Catalunian's president of Generalitat.

Finally on 25 may 2018, SECOND motion of no confidence requested by main oppositions party (PSOE)... starts a new political crisis increasing the negative performance reaching maximun levels again...

Adittionaly, context may not help= Italy case, bonds, ECB politics, debt, euro weak...

https://www.bloomberg.com/news/articles/2018-05-25/spain-s-key-party-ready-to-back-no-confidence-vote-against-rajoy

https://www.bloomberg.com/news/articles/2018-05-23/spain-s-rajoy-lines-up-basque-support-to-pass-delayed-budget

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DEBT= same logic

Comment:

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#ibex35 vs. #EuroStoxx50 (FX) vs. #Stoxx600 (FY)

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Take a look at what IBEX won in 50 sessions and Pedro Sanchez destroyed in 3

Comment:

Out of control!!!

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In afterhours, we have returned to minimums of the day and have even reached a new low of day 9438 for a day loss of 3.2% and accumulated of 6.1% from Friday 25 at noon (beginning of the fall)

RED, Wall Street follows the fall and has closed its indexes very negative today, opening on Wednesday 30 points to continue the fall and the next support in the remainder of the week will be the minimum of the year to 9327 pts and a cumulative fall of 7.2%.
Crossing in the Stochastic could indicate slowdown of the fall, but still very soon, there are still RED days.