FED: US TSY TO SELL $82.000 BLN 13W BILL SEP 02, SETTLE SEP 04

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• US TSY TO SELL $65.000 BLN 17W BILL JUL 30, SETTLE AUG 05

The Supreme Court has upheld the prosecution of attorney-general Alvaro Garcia Ortiz for the alleged leaking of information about an investigation into the boyfriend of Madrid regional president, Isabel Diaz Ayuso, from the opposition conservative Popular Party. The court's ruling will mean that Garcia Ortiz will be forced to take the stand and testify in the Supreme Court trial that is due to get underway in the coming months. Garcia Ortiz has insisted he will not resign ahead of the trial. 

• The AG was appointed by PM Pedro Sanchez in 2022, and his alleged wrongdoing in leaking information on a tax probe into Diaz Ayuso's partner comes with the PM already under extreme pressure following the arrest of a former senior official from Sanchez's centre-left PSOE in June, and accusations of sexual harrassement against the head of institutional coordination at the Moncloa palace, the office and official residence of the prime minister.
• In a press conference on 28 July, Sanchez insisted that he would present a 2026 budget and there would not be snap elections before 2027. Notably, he did not confirm if that budget would be presented to the Congress of Deputies, given the gov'ts minority status and his inability to pass a state budget for 2025.
• An internal challenge from the PSOE could prove more likely than a confidence vote to oust the PM. Spain's system only allows for 'constructive' confidence votes, where a new PM candidate can secure a majority of deputies' support, an almost-impossible prospect given the fragmentation in parliament.