Catalan elections: Pro-independence parties close to majority - Rabobank

FXStreet (Delhi) - Michael Every, Research Analyst at Rabobank, pro-independence parties won close to a majority of the votes (48%) in the Catalan election, with the balance of actual legislative power now in the hands of pro-independence parties.

Key Quotes

“The ruling pro-austerity PP came a poor fifth, suggesting it will fare badly in December’s national elections.”

“European equities already surged 3.1% on Friday even as key money supply growth fell back y-o-y (because that means more QE, despite it also meaning QE isn’t working as hoped); clearly there is much more to come on the political and economic fronts to ‘cheer’ European equities further even as it also suggests that on an underlying basis, “Things fall apart”.
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