The situation is deteriorating in Spain with the Catalan problem, but the impact on long 10-year rates remains moderate (1.77%, +20 bp in 8 days) so no financial crisis at the moment.
The situation is complex: the possible declaration of independence is problematic because there is no legal basis for voting or a democratic process (no debate or campaign). Europe seems to support Mariano Rajoy but does not want to be accused of interference.
In the event of independence, Catalonia may not be able to return to Europe (veto of Spain), and would have difficulty financing on the markets.
Technical consequences on the Ibex: breakdown of the weekly averages, but the index could rebound on important supports (Averages 100 and 200)
IBEX : weekly data
