美国总统特朗普：我确实与西班牙有过矛盾，现在仍然有。但今天西班牙非常慷慨，满足了许多付款要求。

Trump is pushing Ukraine to produce Patriot and Tomahawk systems, signalling a shift in US aid from direct fiscal support to a technology‑licence plus supply‑chain export model. That shifts defense-sector commercial logic away from single government procurement toward recurring overseas revenue streams from system licensing, core parts supply and long‑term maintenance. The move also signals a lower probability of a quick end to the Russia‑Ukraine conflict and prepares markets for more sustained military support, which should reinforce European defence spending and related investment. Market takeaways: reprice defence equities for greater foreign and service income exposure; reassess European fiscal trajectories and potential sovereign issuance/interest‑rate implications from prolonged defence spending; consider tactical exposure to energy, resources and other defensive assets tied to extended geopolitical risk.

Temasek CIO says it has focused on investments that can access large domestic markets.