Dr Copper Is Bullish On 2026

Denmark (responsible for Greenland's defense), Germany, France, Sweden, and Norway have confirmed plans to deploy military personnel to the sparsely populated island this week for a joint military exercise. These NATO members are preparing to repel a US invasion of Greenland. We wish we were kidding. A much less far-fetched scenario is that China will invade Taiwan.

The stock market isn't taking either scenario seriously. Taiwan Semiconductor (TSMC) rose to a record high today on better-than-expected earnings. Then again, the Trump administration announced today that Taiwanese chip and technology companies will invest at least $250 billion in US production capacity, and the Taiwanese government will guarantee $250 billion in credit for these companies. Might they be preparing to shut down their operations in Taiwan in the event of an invasion by China? That might be more likely following Trump's excellent adventure in Venezuela and his threat to grab Greenland.