The Art of the Hedge: Tariffs, War Dividends, and the Spanish Trade Inquisition

If there is one thing the global financial markets have learned in the early months of 2026, it is that stability is for people who don’t have a Truth Social account. Investors spent the first week of March attempting to price in a reality that feels increasingly like a fever dream written by a protectionist chatbot. Between the Supreme Court playing a high-stakes game of “legal whack-a-mole” with trade levies and the White House launching a maritime insurance start-up in the middle of a conflict zone, the ...