The VIX says calm. The geometry says re-armament.
The week the tape priced peace, the geometry moved both equity markets’ stress into the sector that prices re-armament. Reading as of Friday 7 August 2026 close · 12 min read If your book carries industrial, defense-adjacent, or shipping-linked exposure hedged on the assumption that a Strait of Hormuz deal de-risks the sector, the manifold…