Will a divided Washington make a deal to provide further aid to Ukraine? The market views that as likely, at least if you go by the advance made by the SPDR S&P Aerospace & Defense ETF
XAR.
That’s according to 22V Research analysts Kim Wallace and Sandra Namoos, who said in a note Friday that the exchange-traded fund is a “reliable sentiment indicator of war funding, NDAA, and routine FY24 defense appropriations.” NDAA refers to the National Defense Authorization Act, an annual Pentagon funding package. “XAR is up 0.5% this week through Thursday’s close with momentum strongest yesterday as final action for the package of national security legislation gained certainty,” the analysts wrote, as they shared the chart below.
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XAR.
That’s according to 22V Research analysts Kim Wallace and Sandra Namoos, who said in a note Friday that the exchange-traded fund is a “reliable sentiment indicator of war funding, NDAA, and routine FY24 defense appropriations.” NDAA refers to the National Defense Authorization Act, an annual Pentagon funding package. “XAR is up 0.5% this week through Thursday’s close with momentum strongest yesterday as final action for the package of national security legislation gained certainty,” the analysts wrote, as they shared the chart below.
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