Alberto Núñez Feijóo holds the strongest position in trader assessments for Spain’s next prime minister, driven by consistent polling leads for the Partido Popular ahead of the November 29 snap election called by Pedro Sánchez after parliament rejected key housing decrees. Recent surveys show the PP-Vox bloc on track for a parliamentary majority, reflecting voter concerns over housing affordability, a summer migrant surge in Ceuta, and ongoing corruption cases tied to the current government. Sánchez’s campaign emphasizes rent controls and social protections, while Feijóo highlights expanded construction, tax relief, and security. These factors have sustained Feijóo’s elevated implied probability in the market, with Sánchez trailing substantially and other figures remaining marginal. Upcoming debates and final polling shifts could still influence coalition negotiations post-election.