Geopolitical Risk Easing
Defence stocks are fading, underperforming the market by 1.9% over the past week.
What this is
International tensions are cooling. The extra cost that had been built into oil, gold and defence names while disruption looked likely is being taken back out.
What it moves
Airlines, shipping and energy-hungry industrials get relief. Defence and gold lose the crisis bid that was supporting them.
What would break it
A broken ceasefire, a fresh flare-up, or a new disruption to a shipping route would put the risk premium straight back.
Where it shows up
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Active means the price data confirms this force is running today. Last measured 11 September 2026 at 21:30 UTC.
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