ECB President Lagarde just made a bold statement on EU fiscal strategy. She's pushing for collective financing mechanisms specifically for defense spending across member states.

This isn't just about military budgets. It signals potential shifts in EU bond issuance, fiscal integration, and sovereign debt dynamics. For macro traders and asset allocators, this could reshape European capital flows.

Defense spending through joint EU bonds? That's a structural change worth monitoring. Impacts everything from yields to currency positioning.