Voltage spikes from line inductance, voltage drop-outs from line resistance. Basically you have little reservoirs of charge scattered all around the board (current flow isn't instantaneous in a real circuit).
It helps to always think of current draw in a compete loop, out the "top" of the capacitor, through your IC, and back into the ground side (this isn't necessarily what's happening physically). Shorter loop means less inductance, shorter traces less resistance.
It helps to always think of current draw in a compete loop, out the "top" of the capacitor, through your IC, and back into the ground side (this isn't necessarily what's happening physically). Shorter loop means less inductance, shorter traces less resistance.