North Korea Arms Up, Taiwan Drills Live-Fire — The Defense Tailwind Stays Chronic.
North Korea is likely to expand its nuclear enrichment by about 75%, according to international researchers, even as Taiwan ran live-fire Himars drills aimed squarely at deterring Beijing.
The Story
North Korea is likely to expand its nuclear enrichment by about 75%, according to international researchers, even as Taiwan ran live-fire Himars drills aimed squarely at deterring Beijing. String these together with the Iran war and you get the same picture we've been painting for months: a more dangerous, more multipolar world where every major power is rearming at once.
This isn't a one-week trade for us — it's a multi-year tailwind. Defense budgets only go up in this environment, and the prime contractors sit on backlogs measured in years. The defense barbell against the AI trade is doing exactly what it's supposed to: when the growth side wobbles on inflation, the deterrence side holds. We keep it reinforced.
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