The Weekly Brief (01 June 2015) - J.P. Morgan Asset Management

The Weekly Brief (01 June 2015)

Contributor Global Markets Insights Strategy Team

Investors in Spanish equities are running from the bulls, or rather the IBEX 35, which declined 2.0% during last Monday’s trading. The market reacted to the surprising results of regional elections, where no single party gained a majority.

For years, Spanish politics has been dominated by The Popular Party and the Socialist PSOE. Now, the political landscape is changing with a four party system likely after this year’s general election. Spain has experienced a successful export-led and reform-focused recovery post-crisis, and is expected to be the fastest growing Eurozone economy this year. Yet low real wages, and high unemployment at 23%, still prevail. Unhappy Spaniards are looking at the alternatives. Investors should be wary of the uncertainties surrounding the forthcoming general election, and the continued reform agenda under a possible coalition government.

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The Weekly Brief - 1 June 2015

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