Spanish Bonds, Stocks Bounce As Officials Say "Door Open" For Dialogue

Mimiccing last week's "stall" pump-n-dump, Spanish stock and bond markets are bid this morning following reports that a senior member of the Catalan regional government called for dialogue with Spain, saying that all of Europe faces economic damage unless a resolution is found.

As Bloomberg reports, after a weekend of mass demonstrations in favor of Spanish unity, Raul Romeva, foreign affairs chief for the separatist government in Barcelona, insisted that the door was open for talks if Prime Minister Mariano Rajoy was willing to engage.

“We need two to tango, we need the other side to be at the table,” Romeva said in an interview in Barcelona on Sunday.

 

“We’re always going to be at the negotiation table, but to start negotiations we need the other party to negotiate with.”

Of course, after Rajoy threatened the 'nuclear option' over the weekend, we suspect talks are the last thing on his Franco-ian mind, but for now markets are impressed with 2Y yields tumbling...

And stocks up (though showing some skepticism)...

 

As a reminder, Puigdemont has vowed to press ahead with his independence drive and is due to address the regional parliament Tuesday, while Rajoy pledged that “national unity will be maintained” by using all instruments available to him. That includes suspending the regional administration and sending in security forces.

“If this man unilaterally declares independence, measures will have to be taken and the government will take measures," Deputy Prime Minister Soraya Saenz de Santamaría told Spanish radio.

 

She said action would be taken even if the government doesn’t win cross-party backing.

 

"We will seek support, but the act will not be left without a response from the government.”

The leaders of the Catalan National Assembly, a civic group that led a series of massive pro-independence demonstrations and works closely with Puigdemont, vowed that today's session will see the president declare independence in a video posted on Twitter Sunday.

Comments

Overflow shovelhead Mon, 10/09/2017 - 08:41 Permalink

Leader of secessionist coup just told on TV that, tomorrow, with independence, the New Catalan Republic would set a bank freeze hard control of capital.   CORRALITO!!!!   LOL!!!   Meanwhile, the staged victimistic show of the referendum is totally debunked and everywhere they are finding out who are these clowns. http://www.bild.de/wa/ll/bild-de/unangemeldet-42925516.bild.html https://www.theguardian.com/international https://www.washingtonpost.com/world/europe/we-dont-know-how-good-we-hav...   only ZH and the Young Turks keep fooled by the catalan corrupt gang and their zombie sheep.

In reply to by shovelhead

Fireman Mon, 10/09/2017 - 08:30 Permalink

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The Franco fascist makeover that is modern Spain, province of the evil EUSSR https://www.youtube.com/watch?v=hXrYBUAcYUo

Overflow Mon, 10/09/2017 - 08:40 Permalink

Leader of secessionist coup just told on TV that, tomorrow, with independence, the New Catalan Republic would set a bank freeze hard control of capital. CORRALITO!!!! LOL!!! Meanwhile, the staged victimistic show of the referendum is totally debunked and everywhere they are finding out who are these clowns.http://www.bild.de/wa/ll/bild-de/unangemeldet-42925516.bild.htmlhttps:/… only ZH and the Young Turks keep fooled by the catalan corrupt gang and their zombie sheep.  

Overflow Mon, 10/09/2017 - 08:46 Permalink

Dialogue? FAKE ZH news again. Spanish gov. and Parlament has today declared the only dialogue is with judges, and the catalan government must go back to constitutional order or face the courts.  If the use armed force, then rebellion is punished with minimum of 15 years. Even the mildest party, the socialists, signed that declaration today.http://www.vozpopuli.com/politica/Pedro-Sanchez-respaldara-respuesta-es… Just the opposite the ZH headline says. FOr your information.

NoWayJose Mon, 10/09/2017 - 09:05 Permalink

So let me get this right - 90% of Catalans vote for freedom - yet hundreds of thousands of unemployed Spaniards from outside Catalan can be bused in by the EU and we end up with - dialogue.

Here’s a history lesson on dialogue:

Why shouldn't the Americans -- "children planted by our care, nourished by our indulgence," as Charles Townshend of the House of Commons put it -- pay off England's debt?

Colonel Isaac Barre, who had fought in the French and Indian War, responded that the colonies hadn't been planted by the care of the British government, they'd been established by people fleeing it. And the British government hadn't nourished the colonies, they'd flourished despite what the British government did and didn't do.

Don Diego NoWayJose Mon, 10/09/2017 - 09:17 Permalink

if so many people were bused in, you would expect the secessionists leaders make a stink about this. Yet they are silent, why? because most people in the crowd were Catalan, they do not want to antagonize further the pro-Spain Catalans by insinuating they were not present. As soon as a secessionist leader says the crowd was not Catalan he will have a pots and pans concert at this private address to remind him they are.Still waiting for a nice youtube video of the 15 kilometers of bumper to bumper buses (10.000 buses) that transported the 0.5M crowd.

In reply to by NoWayJose

Don Diego Mon, 10/09/2017 - 09:10 Permalink

I told you last week to go long on Monday, please see my posts of last Thursday. I don't play the markets that often but this one was a sure deal. Made twenty Krugers out of this, not bad for a few clicks. Thanks Puigdemont! And also ZH of course. 

Don Diego Mon, 10/09/2017 - 09:13 Permalink

Where are the ZHedgers that were so sure last week? LULZ, in the denial phase of course. The anger phase when there is no war will start tomorrow. Sorry no nice youtube videos of Spaniards getting killed or tortured, back to the old Syrian videos.

Bananamerican Mon, 10/09/2017 - 12:36 Permalink

"senior member of the Catalan regional government called for dialogue with Spain, saying that all of Europe faces economic damage unless a resolution is found." then STFU