First Came the TACO Trade. Now It’s the NACHO.

WSJ What’s News

A.M. Edition for May 12. With the U.S. and Iran still far apart on a peace deal, WSJ reporter Caitlin McCabe says investors are embracing a new Tex-Mex-inspired trade based on the assumption the Strait of Hormuz won’t be opening anytime soon. Plus, British Prime Minister Keir Starmer fights for his job as a rebellion against him spills into markets. And Democrats face another setback in the midterm redistricting fight. Luke Vargas hosts. 


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A.M. Edition for May 12. With the U.S. and Iran still far apart on a peace deal, WSJ reporter Caitlin McCabe says investors are embracing a new Tex-Mex-inspired trade based on the assumption the Strait of Hormuz won’t be opening anytime soon. Plus, British Prime Minister Keir Starmer fights for his job as a rebellion against him spills into markets. And Democrats face another setback in the midterm redistricting fight. Luke Vargas hosts. 


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Learn more about your ad choices. Visit megaphone.fm/adchoices

2026-05-12 12 min
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