Unhedged
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Unhedged
Katie Martin, Robert Armstrong and other markets nerds at the Financial Times explain the big ideas behind what’s happening in finance right now. Every Tuesday and Thursday. Hosted on Acast. See acast.com/privacy for more information.
Nedávne epizódy
301 epizód
Introducing: The Story of Money
The economist John Kenneth Galbraith once quipped that “there can be few fields of human endeavour in which history counts for so little as in the wor...
The Fed holds steady
Yesterday, JayPowell made his final remarks as chair of the Federal Reserve. And then he announced his intention to remain on the board. Today on the...
Gloom and boom
The news is bad, but stocks seem happy. Today on the show, Katie Martin and Rob Armstrong unpack the market’s rally and look forward to Fed chair Jay...
China Shock 2.0
In the past decade China has transformed itself into a high-value producer of sophisticated goods, threatening jobs in Europe and the rest of Asia. To...
Trading disruption
Today on the show, Rob Armstrong reports from the FT Commodities Global Summit 2026, where hundreds of traders gathered to share war stories about one...
Boing! Spring time for the markets
After a nervous couple of months, markets suddenly roared to life this week, with the S&P 500 reaching a new high. Struggling shoe company Allbirds le...
Space ecstasy
Elon Musk’s SpaceX plans to go public this year in what may be the largest IPO of all time. But what is SpaceX, exactly? Today on the show, Katie Mart...
What has changed?
As President Donald Trump’s confusing messages on the Iran war seem to coalesce around a retreat, markets have risen. But are we really going back to...
Guns and butter and credit
Economists often compare today’s era to the 1970s, when oil prices were high and inflation was looming. But there is something to learn from the 1960s...
How an energy crisis unfolds
World energy supplies have been disrupted by the Iran war. But how long will they take to return to normal after the war is over? Today on the show, K...
Is this social media's tobacco moment?
A jury in a Los Angeles court has found Meta and Google liable for $6m in damages in a civil suit alleging their social media products are designed to...
The rout in UK and European bonds
The plunge in UK and European bonds has been expensive for hedge funds, whose bets have gone sideways. But it could be expensive for regular people to...
Why are markets listening to Trump?
When President Donald Trump talks, markets listen. But why? Today on the show, Katie Martin and Rob Armstrong try to figure out if the markets really...
The Fed’s juggling act
The war has caused a spike in oil prices, which will pass costs through the economy. But if the economy is slowing, will there be enough inflation to...
Are the markets right or wrong about Iran?
Oil is up, bombs are falling and investors are increasing their piles of cash. But the market isn’t far off its highs. Today on the show, Katie Martin...
Uncomfortable moments in private credit
There has been a steady trickle of bad news in private credit, and investors have been having a hard time getting their money out of funds. Today on t...
Wildest day for oil ever
Over the weekend, the price of oil had its biggest intraday swing on record, bouncing between $84 and $119 per barrel in just 23 hours. Today on the s...
The case against stablecoins
The Genius Act allowed stablecoins to trade in the US as a legal form of currency. But can that really work? Today on the show, financial historian Br...
Energy prices up, markets down
The US attack on Iran has muddled expectations for the year, especially in energy markets. Today on the show, US energy editor Jamie Smyth joins Katie...
What the actual tariff?
The Supreme Court just overturned President Donald Trump’s use of the emergency powers provision to impose tariffs. Now importers are suing for refund...
The report that rattled Wall Street
On Monday, a report by Citrini Research appeared to rattle traders on Wall Street. Its thesis was that massive efficiency increases would lead to wide...
How low can the dollar go?
World markets continue to be down on the dollar. Today on the show, Katie Martin and senior markets correspondent Ian Smith discuss how inflation, pol...
Introducing 'Behind the Money': Can Wells Fargo make it in investment banking?
For more than 170 years, Wells Fargo built a reputation as an all-American Main Street lender. Now, it is charting a new path and pushing into investm...
Is AI creating jobs?
Buried deep in the heart of this week’s US jobs report is a hint that companies may be increasing hiring to build all those AI data centres we keep he...
What Takaichi's win means for global markets
Japan’s Prime Minister Sanae Takaichi and her Liberal Democratic Party dominated in a snap election on Sunday and the country’s stock market loved it....
The triangle of confusion
Markets, data and sentiment are often looked to as indicators of the present and guides to the future. But these data points aren’t helping as much as...
The next Fed chair
President Donald Trump announced his pick for the next Fed chair at the end of last week. It was Kevin Warsh, a former member of the Fed Board of Gove...
The incredible shrinking dollar
Since the second inauguration of US President Donald Trump, the dollar has been in a slow but persistent decline. Today on the show, Katie Martin and...
How does a gold rush end?
Gold and silver are both racing to record highs. But can it last? Today on the show, Katie Martin and Rob Armstrong talk about factors that might put...
Taco FTW
The “Taco trade” proved profitable again this week as US President Donald Trump walked back his proposals for invading Greenland. ("Taco", of course,...
Trade wars, real wars and the markets
As Donald Trump threatens a takeover of Greenland, Europe responds with military deployments, sending the markets into a low-key swivet. Today on the...
Introducing 'Business History': Young Warren Buffett
We’re sharing a preview of another podcast we think you’ll enjoy, Business History. Former Planet Money hosts Jacob Goldstein and Robert Smith examine...
Stock picking champs 2025
The results of the FT’s 2025 stock picking contest are in! Today on the show, Katie Martin, Rob Armstrong and the FT’s asset management reporter Alan...
Showdown at the Federal Reserve
On Sunday night, Federal Reserve Chairman Jay Powell took the extraordinary step of issuing a video saying he is being threatened with a criminal indi...
Outlook 2026
Markets continue their sunny cruise, whistling along as the world is upended by nationalistic meddling in both corporations and other countries. Today...
Imperialism and the markets
US President Donald Trump has attacked Venezuela and removed its leader. The markets remain nonchalant. Does that make sense? Today on the show, Rob A...
From Behind the Money: Private equity’s push into Japan
Unhedged is on a break over the holidays, so we wanted to share an episode from our fellow FT podcast, Behind the Money. When international private eq...
Quiz show!
Katie Martin spent a restful 20 hours on a plane coming up with some devilishly hard questions for her colleagues, Rob Armstrong and John Foley. Today...
From Against the Rules: Michael Burry Speaks
Here’s another podcast we think you’ll enjoy, The Big Short Companion from Against the Rules, hosted by bestselling author Michael Lewis. Lewis’ popul...
We take some questions
Why do companies care about their share price so much? Is Switzerland in danger of losing its banks? What would regime change in Venezuela do to globa...