Spain’s snap general election scheduled for November 29 follows the rejection of housing-relief decrees by Pedro Sánchez’s minority government, shifting focus to voter priorities such as affordability, immigration, and economic management. Recent national polls show the People’s Party (PP) and Vox together projected to secure a parliamentary majority, positioning PP leader Alberto Núñez Feijóo to form the next administration in line with the market’s 81.5% implied probability. Sánchez’s PSOE trails significantly, reflecting sustained polling deficits and coalition challenges. Traders appear to weigh the structural advantages of an opposition-led majority against the uncertainties of final seat distributions and potential post-election negotiations in Spain’s proportional system.