Spain calls snap election as US yields hit new highs
Spanish Prime Minister Pedro Sanchez has called a snap election for November amid ongoing European political uncertainty. Meanwhile, US Treasury yields reached a new twenty-four year high as global markets digest the latest economic developments.
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Spain called a snap election for November, joining France in a political crisis that pushed EUR/USD down to $1.1161 overnight. The twin political shocks threaten to destabilize two of the euro zone's four largest economies at once. Investors are now questioning whether political uncertainty will force a dovish pivot from the European Central Bank.
