<?xml version="1.0" encoding="utf-8" standalone="yes"?><urlset xmlns="http://www.sitemaps.org/schemas/sitemap/0.9" xmlns:image="http://www.google.com/schemas/sitemap-image/1.1"><url><loc>https://tradeturbulence.com/topics/tariffs-and-trade-policy/</loc><lastmod>2026-10-14T12:20:04+05:30</lastmod><changefreq>monthly</changefreq><priority>0.5</priority></url><url><loc>https://tradeturbulence.com/macro-policy/goods-deficit-widened-before-surcharge-ended/</loc><lastmod>2026-10-14T12:20:04+05:30</lastmod><changefreq>monthly</changefreq><priority>0.8</priority><image:image><image:loc>https://media.tradeturbulence.com/images/us-goods-deficit-surcharge-months-2026-10.png</image:loc><image:title>The surcharge ended in July. The deficit began widening in May.</image:title></image:image></url><url><loc>https://tradeturbulence.com/topics/</loc><lastmod>2026-10-14T12:50:11+05:30</lastmod><changefreq>monthly</changefreq><priority>0.5</priority></url><url><loc>https://tradeturbulence.com/</loc><lastmod>2026-10-14T11:51:09+00:00</lastmod><changefreq>daily</changefreq><priority>1.0</priority></url><url><loc>https://tradeturbulence.com/explainers/stress-index-what-80-means/</loc><lastmod>2026-10-13T19:50:37+05:30</lastmod><changefreq>monthly</changefreq><priority>0.8</priority><image:image><image:loc>https://media.tradeturbulence.com/images/stress-index-v3-history-bands-2026-10.png</image:loc><image:title>A Stress Index of 80 is higher than any day of 2010–2019</image:title></image:image></url><url><loc>https://tradeturbulence.com/explainers/</loc><lastmod>2026-10-13T19:50:37+05:30</lastmod><changefreq>weekly</changefreq><priority>0.9</priority></url><url><loc>https://tradeturbulence.com/topics/supply-chains/</loc><lastmod>2026-10-14T12:50:11+05:30</lastmod><changefreq>monthly</changefreq><priority>0.5</priority></url><url><loc>https://tradeturbulence.com/topics/currencies/</loc><lastmod>2026-10-13T16:36:27+00:00</lastmod><changefreq>monthly</changefreq><priority>0.5</priority></url><url><loc>https://tradeturbulence.com/topics/rates-and-yields/</loc><lastmod>2026-10-13T19:50:37+05:30</lastmod><changefreq>monthly</changefreq><priority>0.5</priority></url><url><loc>https://tradeturbulence.com/markets/rupee-gain-after-rbi-rate-rise/</loc><lastmod>2026-10-13T19:50:37+05:30</lastmod><changefreq>monthly</changefreq><priority>0.8</priority><image:image><image:loc>https://media.tradeturbulence.com/images/rupee-fixings-rate-rise-then-gain-2026-10.png</image:loc><image:title>The rupee fell through a rate rise, then rose 1.4% in two fixings</image:title></image:image></url><url><loc>https://tradeturbulence.com/topics/iran-and-the-gulf/</loc><lastmod>2026-10-14T12:50:11+05:30</lastmod><changefreq>monthly</changefreq><priority>0.5</priority></url><url><loc>https://tradeturbulence.com/topics/shipping-and-chokepoints/</loc><lastmod>2026-10-14T12:50:11+05:30</lastmod><changefreq>monthly</changefreq><priority>0.5</priority></url><url><loc>https://tradeturbulence.com/geopolitics-trade/route-displacement-rise-bosporus-dover/</loc><lastmod>2026-10-14T12:50:11+05:30</lastmod><changefreq>monthly</changefreq><priority>0.8</priority><image:image><image:loc>https://media.tradeturbulence.com/images/rdi-rise-by-route-2026-10.png</image:loc><image:title>The Bosporus is 34% of the rise in route displacement. Hormuz, 3%</image:title></image:image></url><url><loc>https://tradeturbulence.com/weekly/week-to-11-october-2026/</loc><lastmod>2026-10-12T21:16:26+05:30</lastmod><changefreq>monthly</changefreq><priority>0.8</priority><image:image><image:loc>https://media.tradeturbulence.com/images/brent-rupees-record-week-2026-10.png</image:loc><image:title>Brent rose 10% in a week. In rupees it set a record</image:title></image:image></url><url><loc>https://tradeturbulence.com/topics/oil-markets/</loc><lastmod>2026-10-14T12:50:11+05:30</lastmod><changefreq>monthly</changefreq><priority>0.5</priority></url><url><loc>https://tradeturbulence.com/weekly/</loc><lastmod>2026-10-12T21:16:26+05:30</lastmod><changefreq>weekly</changefreq><priority>0.9</priority></url><url><loc>https://tradeturbulence.com/markets/brent-monthly-jump-hormuz-counts-disagree/</loc><lastmod>2026-10-14T12:50:11+05:30</lastmod><changefreq>monthly</changefreq><priority>0.8</priority><image:image><image:loc>https://media.tradeturbulence.com/images/brent-hormuz-two-counts-2026-10.png</image:loc><image:title>Brent rose 23% in a month. The Hormuz counts point both ways</image:title></image:image></url><url><loc>https://tradeturbulence.com/geopolitics-trade/rhine-kaub-below-2018-low/</loc><lastmod>2026-10-14T12:50:11+05:30</lastmod><changefreq>monthly</changefreq><priority>0.8</priority><image:image><image:loc>https://media.tradeturbulence.com/images/rhine-kaub-2026-vs-2018-2026-10.png</image:loc><image:title>The Rhine at Kaub has spent 41 days below its 2018 record</image:title></image:image></url><url><loc>https://tradeturbulence.com/macro-policy/index-settled-energy-severe/</loc><lastmod>2026-10-13T16:36:27+00:00</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/brent-vol-vix-percentiles-2026-08.png</image:loc><image:title>The index went calm the week oil went violent</image:title></image:image></url><url><loc>https://tradeturbulence.com/geopolitics-trade/kerch-strait-month-one-day/</loc><lastmod>2026-10-14T12:50:11+05:30</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/kerch-month-one-day-2026-08.png</image:loc><image:title>Kerch now moves in a month what it once moved in a day</image:title></image:image></url><url><loc>https://tradeturbulence.com/markets/weak-dollar-rupee-yen-divergence/</loc><lastmod>2026-10-13T16:36:27+00:00</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/dollar-buys-one-year-2026-08.png</image:loc><image:title>The dollar is at its 24th percentile. The rupee is at its 97th.</image:title></image:image></url><url><loc>https://tradeturbulence.com/topics/us-china-trade/</loc><lastmod>2026-10-14T11:32:53+05:30</lastmod><changefreq>monthly</changefreq><priority>0.5</priority></url><url><loc>https://tradeturbulence.com/macro-policy/section-122-surcharge-deficit-rate/</loc><lastmod>2026-10-14T11:35:37+05:30</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/section-122-run-rate-2026-08-v2.png</image:loc><image:title>The surcharge ran 150 days. The deficit did not narrow.</image:title></image:image></url><url><loc>https://tradeturbulence.com/geopolitics-trade/china-us-import-share-2000-level/</loc><lastmod>2026-08-13T15:18:17+05:30</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/us-import-shares-2026-06.png</image:loc><image:title>China's share of US imports is back to its 2000 level.</image:title></image:image></url><url><loc>https://tradeturbulence.com/geopolitics-trade/route-displacement-index-record/</loc><lastmod>2026-10-14T12:50:11+05:30</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/rdi-record-2026-08.png</image:loc><image:title>A tenth of chokepoint traffic is on a different route.</image:title></image:image></url><url><loc>https://tradeturbulence.com/geopolitics-trade/malacca-peak-baseline-red-sea/</loc><lastmod>2026-10-14T12:50:11+05:30</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/malacca-no-diversion-2026-07.png</image:loc><image:title>Malacca peaked in January. The Red Sea never moved it.</image:title></image:image></url><url><loc>https://tradeturbulence.com/markets/brent-percentile-hormuz-transits/</loc><lastmod>2026-08-02T03:23:50+05:30</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/brent-five-year-distribution-2026-07.png</image:loc><image:title>Brent is high. It is not extreme.</image:title></image:image></url><url><loc>https://tradeturbulence.com/geopolitics-trade/kerch-strait-azov-shipping-data/</loc><lastmod>2026-10-14T12:50:11+05:30</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/kerch-strait-daily-transits-2026-07.png</image:loc><image:title>The Kerch Strait broke 107 days before the invasion</image:title></image:image></url><url><loc>https://tradeturbulence.com/geopolitics-trade/strait-of-hormuz-traffic-data/</loc><lastmod>2026-08-01T01:23:14+05:30</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/hormuz-daily-transits-2026-07.png</image:loc><image:title>The Strait of Hormuz hit zero three times. It is still at 18%.</image:title></image:image></url><url><loc>https://tradeturbulence.com/geopolitics-trade/china-export-prices-dollars-versus-yuan/</loc><lastmod>2026-10-14T11:32:53+05:30</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/rusted-container-descent.webp</image:loc><image:title>The China discount reversed in dollars. In yuan it never did.</image:title></image:image></url><url><loc>https://tradeturbulence.com/geopolitics-trade/saudi-arabia-enters-iran-war-data-lag/</loc><lastmod>2026-07-29T22:00:55+05:30</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/ttsi-input-lag-2026-07-29.png</image:loc><image:title>Saudi Arabia entered the war. The index cannot see it yet.</image:title></image:image></url><url><loc>https://tradeturbulence.com/geopolitics-trade/us-china-tariff-escalation-tech-supply-chains/</loc><lastmod>2026-07-29T22:00:55+05:30</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/us-import-sources-shift-2026-05.png</image:loc><image:title>US imports didn't fall under tariffs. They changed address.</image:title></image:image></url><url><loc>https://tradeturbulence.com/macro-policy/stress-index-components-disagree/</loc><lastmod>2026-07-29T14:26:54+05:30</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/ttsi-component-spread-2026-07-27.png</image:loc><image:title>The stress index reads Normal. Nothing inside it does.</image:title></image:image></url><url><loc>https://tradeturbulence.com/macro-policy/thirty-year-yield-below-its-own-median/</loc><lastmod>2026-07-28T22:24:19+05:30</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/thirty-year-yield-since-1977.png</image:loc><image:title>The 30-year is not high. The last 19 years were low.</image:title></image:image></url><url><loc>https://tradeturbulence.com/markets/rupee-oil-dollar-correlation/</loc><lastmod>2026-10-14T12:50:11+05:30</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/crude-oil-tanker-dusk.webp</image:loc><image:title>The rupee-oil link only appears once you remove the dollar</image:title></image:image></url><url><loc>https://tradeturbulence.com/geopolitics-trade/caspian-strikes-iran-russia-ukraine/</loc><lastmod>2026-07-27T23:55:50+05:30</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/dusk-cargo-ship-terminal.webp</image:loc><image:title>Ukraine hit Iran-bound ships in the Caspian. Oil is up 22%.</image:title></image:image></url><url><loc>https://tradeturbulence.com/tech-innovation/chip-prices-fell-as-output-rose/</loc><lastmod>2026-07-27T20:08:49+05:30</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/wafer-inspection-station.webp</image:loc><image:title>Chip output rose 4.8% last quarter. Chip prices fell 1.5%.</image:title></image:image></url><url><loc>https://tradeturbulence.com/topics/the-ai-build-out/</loc><lastmod>2026-07-27T20:08:49+05:30</lastmod><changefreq>monthly</changefreq><priority>0.5</priority></url><url><loc>https://tradeturbulence.com/tech-innovation/semiconductor-record-june-not-a-streak/</loc><lastmod>2026-07-27T20:08:49+05:30</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/fab-cleanroom-bay.webp</image:loc><image:title>A record June for chip output — but not a seven-month climb</image:title></image:image></url><url><loc>https://tradeturbulence.com/tech-innovation/ai-buildout-cost-who-pays/</loc><lastmod>2026-07-27T16:15:48+05:30</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/data-centre-blue-hour.webp</image:loc><image:title>You cannot audit OpenAI's losses. You can audit the electricity bill.</image:title></image:image></url><url><loc>https://tradeturbulence.com/geopolitics-trade/us-trade-deficit-monthly-volatility-regime/</loc><lastmod>2026-07-27T16:15:48+05:30</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/shipping_containers_overcast_sky.webp</image:loc><image:title>The US trade deficit widened $23bn in a month. The level isn't the story.</image:title></image:image></url><url><loc>https://tradeturbulence.com/topics/digital-assets/</loc><lastmod>2026-07-27T16:15:48+05:30</lastmod><changefreq>monthly</changefreq><priority>0.5</priority></url><url><loc>https://tradeturbulence.com/crypto-digital/trumps-crypto-empire-and-morgan-stanleys-digital-foray/</loc><lastmod>2026-07-27T16:15:48+05:30</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/trumps-crypto-empire-and-morgan-stanleys-digital-foray-hero.png</image:loc><image:title>Trump's Crypto Empire and Morgan Stanley's Digital Foray: Predicting the Future of South Florida's Crypto Landscape</image:title></image:image></url><url><loc>https://tradeturbulence.com/geopolitics-trade/navigating-ripple-effects-iran-us-tanker/</loc><lastmod>2026-07-27T16:15:48+05:30</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/navigating-ripple-effects-iran-us-tanker-hero.png</image:loc><image:title>Navigating the Ripple Effects: Global Trade and Market Forecasts in the Wake of Iran's Attack on US Oil Tanker</image:title></image:image></url><url><loc>https://tradeturbulence.com/macro-policy/ai-disruption-india-it-sector/</loc><lastmod>2026-07-27T16:15:48+05:30</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/ai-disruption-india-it-sector-hero.png</image:loc><image:title>AI Disruption in India's IT Sector: Navigating a Transformative Future</image:title></image:image></url><url><loc>https://tradeturbulence.com/macro-policy/ai-revolution-economic-challenges/</loc><lastmod>2026-07-27T16:15:48+05:30</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/ai-revolution-economic-challenges-hero.png</image:loc><image:title>The AI Revolution: The White-Collar Extinction Event and the Slow Unmaking of Modern Cities</image:title></image:image></url><url><loc>https://tradeturbulence.com/markets/adm-stock-performance-analysis/</loc><lastmod>2026-07-27T16:15:48+05:30</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/adm-stock-performance-analysis-hero.png</image:loc><image:title>Archer Daniels Midland Reaches New Heights: A Comprehensive Analysis of Stock Performance and Strategic Resilience</image:title></image:image></url><url><loc>https://tradeturbulence.com/topics/equity-markets/</loc><lastmod>2026-07-28T18:51:19+05:30</lastmod><changefreq>monthly</changefreq><priority>0.5</priority></url><url><loc>https://tradeturbulence.com/geopolitics-trade/iran-oil-strategy-strait-of-hormuz/</loc><lastmod>2026-07-27T16:15:48+05:30</lastmod><changefreq>monthly</changefreq><priority>0.6</priority><image:image><image:loc>https://media.tradeturbulence.com/images/iran-oil-strategy-strait-of-hormuz-hero.png</image:loc><image:title>Iran's Oil Strategy: Navigating the Strait of Hormuz Amid Conflict and Global Market 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