Republicans took heavy hits in last week’s elections across the country. But is this really the opening act of a Democratic wave in the 2026 midterms — or a misleading burst of blue? And what does it reveal about Trump’s actual leverage heading into the second half of his term? Our new report breaks down what these results - and the redistricting wars - truly signal for U.S. politics, policy and markets.

America still calls the tune for the world economy, but it’s dancing ever more wildly to the rhythm of its own politics. In this report, we explore three stories with the power to shake markets: the government shutdown, Trump’s Supreme Court tariff showdown, and the trade war reignited in Washington.

As the world is still catching its breath from earlier rounds of the U.S.–China trade war that began during Trump’s first term, the American and Chinese cowboys — after a deceptively calm summer — once again face each other at high noon. How will this duel end, and what does it reveal about the broader struggle for power between Beijing and Washington?