It was another week of policy pivots, back-and-forth trade headlines, and economic data that did little to anchor investor expectations. In the midst of the chaos, one phrase kept surfacing across Wall Street: the "TACO" trade.

Wall Street has a new shorthand about President Donald Trump — and he’s not happy about it. Traders have reportedly come up with the acronym TACO, which stands for “Trump always chickens out,” to describe the tumultuous trade environment created by the president’s habit of threatening to impose tariffs on countries,