German defense stocks have been some of the best-performing stocks in the world this year and we found out why today as German chancellor in waiting Friedrich Merz announced a €500 billion special defense fund.
He also said that the debt brake will be reformed for defense with spending above 1% exempted.
Bund yields are up 2.7 bps to 2.50% from a low today of 2.43%.
€500 billion is no small number, it's 12% of German GDP.
Up A separate report said this fund is also for infrastructure, which makes sense as that would be a gigantic jump in military spending.
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