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Market Recap – European coalition governments

Tuesday, July 23, 2019 10:55 AM GMT

The coalition government in Spain does not seem to be a done deal. Yesterday, Pablo Iglesias, Podemos leader, asked for more important ministries to be offered to him and stated that he does not want to be a decoration to the Socialist Party’s government. Worth remembering that the two parties have different views on the Catalonia independence, with the Podemos supporting a referendum and the Socialists opposing it. A final vote at the Spanish parliament will take place on Thursday.

In Italy, Matteo Salvini, leader of the rightist League party that strengthened during the recent EU elections but is accused of illegal funding from Russia, and Luigi Di Maio, leader of the anti-establishment Five Star Movement that lost half of its power at the same elections, are set to meet today to discuss on their coalition government.

Later today, the new UK's Prime Minister is set to be voted. Both contenstants are ready to accept a hard no-deal Brexit.

As US National security advisor, John Bolton, was visiting South Korea, joint military drills by Russian and Chinesese aircrafts took place at the South Korean airspace. South Korea responded with warning shots.

Macro releases: The day does not include any potentially market-moving release.

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