Challenges in European Military Spending

Nothing Ever Happens. Or does it? A week on from a one act play of a war, we pick through the charred remains of the Fordow Nuclear Site. We’re looking for clues. A smouldering nothingburger here; or a flambéd Middle Eastern order there?  

Meanwhile, Daddy got his five percent — NATO members have signed up to splash the cash on the next generation of weaponry. But is this wise defensive spending, or just a fully-armoured hypersonic pork barrel? 

Finally, the S&P has rallied this week - just as the dollar has dipped enough to offset the wins. Now, with bond yields also on the up, we’re into an era of two snakes for every ladder. Is this a weird blip - or the first horseman of dedollarisation? 

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