0950 GMT - Snap elections in Spain come at a delicate moment for Europe, writes JPMorgan's Mariana Monteiro. Prime Minister Pedro Sanchez called an early vote for parliament to be held at the end of next month, a move that comes amid protests across Spanish cities against rising housing costs. A change in government to a right-wing coalition would likely have only a limited impact on the trajectory of the Spanish economy and on Madrid's relationship with Brussels, Monteiro says. But the news injects further uncertainty into Europe's macro landscape, she says. Monteiro points to "concerns about political stability in Germany, uncertainty around the French electoral outlook and, more broadly, the implications of higher sovereign yields for debt sustainability."