Time to release the Spanish bulls?
FT Alphaville » Spain 2014-08-28
Summary:
We all know about the amazing diminishing Spanish bond yield.
But have you heard the one about the Spanish recovery having totally viable legs?
Spanish consumer prices may have fallen 0.5 per cent in August, year on year — their sharpest drop since 2009 — but the final reading of second quarter GDP confirmed the economy still grew 0.6 per cent q/q versus 0.4 per cent q/q in first quarter of 2014.
As this chart from Marco Protopapa at JP Morgan shows, that makes for quite a turnaround, deflation or no deflation:
