Industry unscathed by Iraq drawdown, says report.

• Position: WASHINGTON PULSE: NEWS FROM INSIDE THE BELTWAY

* Investors have speculated for some time about a downturn in the defense industry following a U.S. pullback from Iraq. Not to worry, say analysts from the Spade Defense Index. Regardless of who wins the November elections, "Trends over the next few years show that a significant decline in the sector is unlikely," according to a Spade bulletin. "Increased defense spending around the world, and a continuing upcycle in related aerospace industries will provide...