Sector Overview

Industrials is the backbone sector — the companies that build the physical world. From Boeing's aircraft to Caterpillar's construction equipment, from Lockheed Martin's defense contracts to Union Pacific's railroads. The Trap Ledger covers industrials with a focus on government spending, defense budgets, infrastructure bills, and the supply chain dynamics that affect production. This sector is heavily influenced by economic cycles — when the economy is growing, industrial companies benefit from increased demand for their products. Defense names provide stability through government contracts. The Ledger tracks order backlog data, manufacturing PMI, and the capital expenditure trends that signal where the economy is headed.