Trade tensions reshaping the retail landscape faster than expected. As suppliers rushed to frontload inventory ahead of the holiday season, we're watching real-time shifts in supply chains that'll ripple through markets. Here's what's actually happening on the ground: retailers stocked aggressively, warehouses filled up, but the underlying cost pressures didn't ease. Import tariffs squeezed margins, logistics snarled. This matters because when traditional markets face these supply-side shocks, it forces capital reallocation. Inflation dynamics shift, consumer spending patterns evolve, and investors start hedging differently. The question isn't just about retail cycles anymore—it's about how macro policy cascades through the economy. These are the kinds of structural shifts that typically precede volatility in risk assets. Watch the data closely.