Valuation Trends: Val. Trends #931: Recognizing, remembering, honoring

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Valuation Trends: Val. Trends #931: Recognizing, remembering, honoring

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Valuation Trends

Val. Trends #931: Recognizing,

remembering, honoring

Industry Overview

Memorial Day is not just the beginning of summer 26 May 2026

We celebrated Memorial Day on Monday. We wanted to take this opportunity to Equity

recognize, remember and honor all those military personnel who died in the service of Americas

our country. We continue to view defense positively, as the threat environment is Aerospace/Defense

elevated and the conflict in Eastern Europe and Middle East supports continued growth Ronald J. Epstein

in DoD priority areas. Consistent with this, the FY27 President’s Budget Request and Research Analyst

reconciliation bill combined would see the historic first $1.5tn US defense budget. That BofAS+1 646 855 5695

said, it is important to remember that military conflicts also come with a personal cost. r.epstein@bofa.com

Additionally, we highlight that this Memorial Day is expected to be the busiest for travel Mariana Perez Mora

Research Analyst

in history. AAA expects 45 million people to travel 50 or more miles from home this year, BofAS

up slightly Y/Y and surpassing a record 44.0 million in 2005. +1 646 855 5696

mariana.perezmora@bofa.com

Memorial Day was borne out of the US Civil War JordanResearchLyonnaisAnalyst

Memorial Day was borne out of the US Civil War and a desire to honor our dead. BofAS

+1 646 855 5204

Memorial Day as we know it today was established on 5 May 1868 when Grand Army of jordan.lyonnais@bofa.com

the Republic General John A. Logan declared May 30 to be "Decoration Day." Decoration Alexander Preston

Day takes its roots from Southern States tradition in which families would travel to the Research Analyst BofAS