Could defence stocks be a boon for investors?

2020 was notable for many things but one underappreciated fact was that it was the year in which the globe began a massive drive to rearm. In the midst of the pandemic, when governments were confronted by a major global contraction in economic activity, we also witnessed a historic rise in military spending across the world. In fact, according to the Stockholm International Peace Research Institute , last year saw the highest annual increase in global military spending since the new millennium, reaching close to $2trn . This was the result of a number of converging trends that came to…