Pre-Summit Presser At 1300CET; Ukraine Support, Sweden Accession In Focus

NATO Secretary General Jens Stoltenberg - this week confirmed to be remaining in position for another 12 months - will hold a presser at 1300CET (0700ET, 1200BST). This comes ahead of the 11-12 July leaders' summit in Vilnius, Lithuania. While NATO summits historically have not garnered much market impact, since the Russian invasion of Ukraine the decisions made at leaders' summits can expand national defence and aid budgets incurring a notable fiscal hit.

• Moreover, the accession saga of Sweden and Finland risks souring relations between Turkey (and Hungary) and crucial allies such as the United States.
• As such, this summit should be closely watched for any indication of major spending shifts by the US, EU, or UK, as well as movement on Sweden's accession, as well as any plans to provide a pathway for Ukrainian membership. The latter would significantly change geopolitical dynamics in Europe long after the eventual end of the war.
• Link to livestream: https://www.youtube.com/watch?v=yjP3nYiRNLY