Germany Coalition (CDU/CSU + SPD) Agreed & Spending Plans. Positive for German equities. Bearish for long term Bunds (but not short term bunds). Marginally positive for the Euro. The German coalition agreement and the published spending plans are positive fo... Read More

War Dividend A tectonic plateshift has started. There will be a War Dividend to recoup the Peace Dividend since the Fall of the Berlin Wall. Events in Europe will cause a global arms race as Alliances break down and nations and blocs “go it alone”. Defence demand will far exc... Read More