Attractive sector: Lockheed Martin aircraft on the flight deck of amphibious assault ship USS Tripoli at Changi Naval Base in Singapore. The investor rush to defence stocks was an obvious move after Russia invaded Ukraine on Feb 24. — Reuters
MANUFACTURERS of fighter jets, battleships and missiles are usually one of investors’ best defensive havens when economies get shaky. This time around, geopolitical conflict and tension are making them key components in the offensive arsenal as well.
Normally, when a downturn erodes demand or some exogenous shock rocks the market, the US government budget, and particularly spending on the military, tends to remain stable.
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