Friday Signal — Deep Dive
The Institutional Break That Could Reprice an Entire Sector
The Signal
Norway’s sovereign wealth fund — the world’s largest, now exceeding $2.1 trillion — is preparing to end its 21-year ban on investing in defence companies. This is not a headline-level wobble. It’s a structural shift in the global capital-allocation regime.
For two decades, defence equities have been shaped by more than earnings and geopolitics.…
