Prime Minister Pedro Sánchez has consistently rejected opposition calls for early dissolution of the Cortes Generales, reiterating his commitment to serve the full legislative term ending no later than August 2027 despite coalition fragility with parties such as Junts and repeated delays on the 2026 General State Budget. Recent regional contests, including snap votes in Extremadura and Aragón plus the May 2026 Andalusian election, delivered further seat losses for the PSOE while strengthening the conservative Popular Party and positioning Vox as a potential kingmaker in several regions. These results, alongside ongoing corruption investigations involving party figures, have intensified pressure on the government but have not prompted Sánchez to exercise his constitutional prerogative to call a national vote. Trader assessments reflect the absence of any imminent trigger for dissolution before year-end.