Neil Freiman

That's definitely a match made in heaven.

Welcome to Winners of the Long Weekend, the segment where Toby and I pick two things that are feeling as refreshed as your co-worker who took a quick trip to the DR. I won the pre-show planking contest, so I get to go first. And my winner is European defense stocks like Saab, BAE Systems, Rheinmetall, which all spiked to record highs yesterday. Defense stocks hitting records today.

Welcome to Winners of the Long Weekend, the segment where Toby and I pick two things that are feeling as refreshed as your co-worker who took a quick trip to the DR. I won the pre-show planking contest, so I get to go first. And my winner is European defense stocks like Saab, BAE Systems, Rheinmetall, which all spiked to record highs yesterday. Defense stocks hitting records today.

Welcome to Winners of the Long Weekend, the segment where Toby and I pick two things that are feeling as refreshed as your co-worker who took a quick trip to the DR. I won the pre-show planking contest, so I get to go first. And my winner is European defense stocks like Saab, BAE Systems, Rheinmetall, which all spiked to record highs yesterday. Defense stocks hitting records today.

Not typically a good sign for your region's security, and that is certainly true for Europe these days. In the past week alone, the Trump administration has left Euro leaders shell-shocked by signaling America was not so interested anymore in defending Ukraine or preserving their decades-long transatlantic alliance, leaving the Europeans to fend for themselves. What were those signals?

Not typically a good sign for your region's security, and that is certainly true for Europe these days. In the past week alone, the Trump administration has left Euro leaders shell-shocked by signaling America was not so interested anymore in defending Ukraine or preserving their decades-long transatlantic alliance, leaving the Europeans to fend for themselves. What were those signals?

Not typically a good sign for your region's security, and that is certainly true for Europe these days. In the past week alone, the Trump administration has left Euro leaders shell-shocked by signaling America was not so interested anymore in defending Ukraine or preserving their decades-long transatlantic alliance, leaving the Europeans to fend for themselves. What were those signals?

The US and Russia will be holding talks in Saudi Arabia this week about ending the war in Ukraine. Note that Ukraine and European leaders were conspicuously left off the invite list. Then on Friday, Vice President J.D. Vance lambasted European establishment politicians to their faces at a security conference in Munich, leaving no doubt...

The US and Russia will be holding talks in Saudi Arabia this week about ending the war in Ukraine. Note that Ukraine and European leaders were conspicuously left off the invite list. Then on Friday, Vice President J.D. Vance lambasted European establishment politicians to their faces at a security conference in Munich, leaving no doubt...

The US and Russia will be holding talks in Saudi Arabia this week about ending the war in Ukraine. Note that Ukraine and European leaders were conspicuously left off the invite list. Then on Friday, Vice President J.D. Vance lambasted European establishment politicians to their faces at a security conference in Munich, leaving no doubt...

that even if Europe needs America, America will no longer be bothered with Europe. And that means a new era of rearmament is dawning on the continent. Upgrading defense and protecting Ukraine could cost Europe's major powers an additional $3.1 trillion over a decade,

that even if Europe needs America, America will no longer be bothered with Europe. And that means a new era of rearmament is dawning on the continent. Upgrading defense and protecting Ukraine could cost Europe's major powers an additional $3.1 trillion over a decade,

that even if Europe needs America, America will no longer be bothered with Europe. And that means a new era of rearmament is dawning on the continent. Upgrading defense and protecting Ukraine could cost Europe's major powers an additional $3.1 trillion over a decade,

But as Poland's prime minister said yesterday, if Europe fails to spend on defense now, they'll be forced to spend 10 times more if they don't prevent a wider war. Toby, the security architecture that had existed in Europe for decades just got blown up in one week.

But as Poland's prime minister said yesterday, if Europe fails to spend on defense now, they'll be forced to spend 10 times more if they don't prevent a wider war. Toby, the security architecture that had existed in Europe for decades just got blown up in one week.

But as Poland's prime minister said yesterday, if Europe fails to spend on defense now, they'll be forced to spend 10 times more if they don't prevent a wider war. Toby, the security architecture that had existed in Europe for decades just got blown up in one week.

Right. So they had this target of 2.2 percent of GDP from all NATO countries going to defend spending in 2020 and 2014. It is currently inching up, but across NATO countries, European defense spending is now at an average of 2.2% of GDP last year. Poland is the only country that is anywhere near 5%, which is what Trump has urged Europeans to get to. The rest are around 2%.

Right. So they had this target of 2.2 percent of GDP from all NATO countries going to defend spending in 2020 and 2014. It is currently inching up, but across NATO countries, European defense spending is now at an average of 2.2% of GDP last year. Poland is the only country that is anywhere near 5%, which is what Trump has urged Europeans to get to. The rest are around 2%.

Right. So they had this target of 2.2 percent of GDP from all NATO countries going to defend spending in 2020 and 2014. It is currently inching up, but across NATO countries, European defense spending is now at an average of 2.2% of GDP last year. Poland is the only country that is anywhere near 5%, which is what Trump has urged Europeans to get to. The rest are around 2%.

You're going to see France, Germany, the U.K., all of these countries spend way more on defense. That is boosting shares. And you also saw bond yields across Europe spike yesterday because investors also expect there to be a borrowing boom to finance these defense plans.