Spain’s stock market has routinely been one of Europe’s stronger performers thanks to its heavy weightings of banks. An index of Spanish lenders has surged 81% in euro terms, outpacing the euro zone banking index’s 60% gain. 2/ BONOS ARE BUENOSA net 23.385 billion euros ($27.40 billion) has flowed into Spanish fixed income this year, making it the most popular major European market of 2025. Runner-up Germany has seen 14.923 billion euros in inflows, according to Morningstar. Spain’s debt-to-GDP ratio, which reached 120% during the pandemic, is now around 100% and falling, while those of the U.S., France, Germany and Britain are seen rising over the next five years, IMF figures show.