In this episode, the hosts cover a wide scope of market themes ranging from geopolitics and commodities to sector-level equities and forward-looking macro drivers. Discussion begins with geopolitical flashpoints such as Trump-era tensions, Venezuela’s transition risks, and Greenland’s strategic minerals, before shifting to equity markets where defence, AI infrastructure and resources stand out as structural beneficiaries. Analysts break down ASX heavyweights across healthcare, tech, infrastructure and banks, highlighting valuation dispersion, earnings resilience and dividend appeal. The conversation also ties in MPC’s 2026 Market Outlook, outlining how AI capex, tariffs, higher-for-longer rates and a persistent geopolitical risk premium will shape volatility and opportunity. Lastly, metals and energy markets are dissected — from record gold and silver to copper strength and lithium momentum — with a focus on how electrification, defence spending and supply constraints feed into pricing.

Key Takeaways

1. Geopolitics is now a core return driver — Venezuela, tariffs and defence realignments are shaping risk premia rather than short-term noise.
2. Defence, energy and mining equities are gaining traction, with stocks like DroneShield benefitting from rising US military spending signals.
3. 2026 will be fragmented but investable, with AI-driven capex supporting growth despite higher-for-longer rates and tariff friction.
4. AI, data-centres and power generation are multi-year themes, driving commodities such as uranium, copper and lithium.
5. Gold & Silver remain strong trades amid safe-haven demand and rate uncertainty, with both printing fresh highs.