Episodes
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Recent announcements about trade deals with the UK and China have cheered markets. But what exactly did the UK agree, and why? Today on the show, the FT’s trade guru Alan Beattie joins Katie Martin to unpack the negotiations. Also they go short droughts and long globalisation.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
You can email Robert Armstrong and Katie Martin at [email protected].
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
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Lower-than-expected inflation and the start of negotiations with China seemed to help stocks on Monday. But the dollar remained uncharacteristically weak. Today on the show, Rob Armstrong and Aiden Reiter ask if America is feeling good, or just relieved to be alive. Also they short gold and go long pope memes.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
You can email Robert Armstrong and Katie Martin at [email protected].
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
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Episodes manquant?
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At the annual meeting of Berkshire Hathaway, Warren Buffett announced his retirement from day-to-day management. Today on the show, Katie Martin and Rob Armstrong look at his incredible career, and try to figure out what becomes of a somewhat random collection of businesses. Also they go short Google and long complacency.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
You can email Robert Armstrong and Katie Martin at [email protected].
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
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There is fast money and there is real money. Fast money means day traders and hedge funds, who jump in and out on the day's news. But the real money — that of governments and insurance and pension funds — moves much more slowly, and with greater effect. Today on the show, Katie Martin speaks with Ian Smith on what may be a slow turn of allocation out of the US and into Europe. Also they go short consumer confidence and long lepidoptery.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
You can email Robert Armstrong and Katie Martin at [email protected].
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
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The GDP contracted this past quarter – a turnaround from two years of surprisingly steady growth. Baked into that negative number are imports, as sellers rush to bring in goods ahead of tariffs. Today on the show, Rob Armstrong and Aiden Reiter dissect the GDP and what it tells us about the rapidly changing economy. Also they go long soyabeans and long blackouts.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
You can email Robert Armstrong and Katie Martin at [email protected].
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
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Air and sea freight bookings for international cargo are plunging. As the reality of empty shelves starts to hit consumers, will Donald Trump blink? Today on the show, Katie Martin and Rob Armstrong try to figure out how long the US president can hold out, and wonder, if he does blink, how long it might take to get trade going again. Also they go long Greggs bakery chain and short the AAII Investor Sentiment Survey.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
You can email Robert Armstrong and Katie Martin at [email protected].
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
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The current administration rode in on a wave of support from America’s traders, lenders and money managers. But that might be changing. Today on the show, Rob Armstrong talks to the FT’s US finance editor, James Fontanella-Khan, about what the titans of Wall Street really think about President Donald Trump. Also they go long AC Milan and short the market.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
You can email Robert Armstrong and Katie Martin at [email protected].
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
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With the continuing decline in the price of US Treasuries, Katie, Rob and Aiden take up the debate about the future of America’s status as a truly exceptional safe haven. Today on the show, the trio discuss the damage President Donald Trump has already done and ask how long it will last. Afterwards, they take long and short bets on 10-year Treasuries, the S&P 500 and the euro/dollar trade.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
You can email Robert Armstrong and Katie Martin at [email protected].
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
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Nvidia shares, along with many others in the tech sector, plunged on Wednesday on news that the Trump administration will be blocking sales of certain technology to China. Particularly hard hit was the outlook for Nvidia’s H20 chip. The company expected the president’s decision to cost it $5.5bn in sales. Today on the show, Katie Martin and Aiden Reiter are joined by Lex editor John Foley to discuss the clampdown on tech and the prospects for AI in general. Also they go long turbulence at the Federal Reserve, and short Dutch chip company ASML.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
You can email Robert Armstrong and Katie Martin at [email protected].
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
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The White House has announced dizzyingly high — and hard-to-follow — tariffs on goods from China. And Beijing has responded. But the real trade war may be between the US president and the American consumer. Today on the show, Katie Martin and Aiden Reiter dig into the tariffs battle and discuss China’s options. Also, Aiden doubles down on donkey metaphors and Katie goes short performative space expeditions.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
You can email Robert Armstrong and Katie Martin at [email protected].
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
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Trump folded on Wednesday, reducing his so-called “reciprocal” tariffs across the board, with the notable exception of massive taxes on goods from China. Today on the show, Rob Armstrong and Katie Martin unpack the market gyrations that followed, and wonder if lasting damage has been done to America’s borrowing costs. Also, they go long global trade and long battered European stocks.
Join Unhedged for a subscriber webinar about the Trump effect on markets on April 23 at 13:00-14:00 UK time. Go to ft.com/trumpmarkets to register now and send your questions to the team.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
You can email Robert Armstrong and Katie Martin at [email protected].
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
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As the markets try to absorb and value the announced US tariffs, China has responded with its own levies. Today on the show, Katie Martin and Rob Armstrong sum up the old bad news, add it to the new bad news, and divide it by the good news. The result isn’t pretty. Also they go long patience and short buying the dip.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
You can email Robert Armstrong and Katie Martin at [email protected].
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
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On April 2, in the Rose Garden of the White House, President Donald Trump announced taxes on almost every kind of imported finished goods. Markets plunged as traders fled equities, and even the dollar weakened. Today on the show, Rob Armstrong and Aiden Reiter go over the tariffs and discuss how they will make it harder for American companies to make money. Also they go long TIPS, and short the fortunes of the American consumer, who will have to pay for all these new levies.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
You can email Robert Armstrong and Katie Martin at [email protected].
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
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Markets, investors and companies are all feeling a little bit jumpy about the state of the economy. Surveys of managers, consumers and investors are all grim. Today on the show, Rob Armstrong and Aiden Reiter take a look at those soft numbers and compare them to hard numbers such as the Job Openings and Labor Turnover survey and try to figure out what’s really going on. Also they go short Indonesia’s plan for a sovereign wealth fund and short the president’s plan for “liberation day”.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
You can email Robert Armstrong and Katie Martin at [email protected].
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
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CoreWeave’s IPO is one of the odder tech plays to come along in a few years. It buys chips from Nvidia, and rents them out, mainly to Microsoft, but also to Nvidia. Today on the show, Rob Armstrong gets into the cloud computing company's business with Lex editor John Foley and the FT’s corporate finance editor Rob Smith. Also they go long Ferraris and short car tariffs.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
You can email Robert Armstrong and Katie Martin at [email protected].
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
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President Donald Trump has been clear he wants lower interest rates. Cheaper money would goose the market and give the government room to spend. But interest rates haven’t exactly been co-operating. Today on the show, Katie Martin, Rob Armstrong and Aiden Reiter discuss plans to move the needle on long-term bonds, from the stalled “Mar-a-Lago Accord” to Treasury secretary Scott Bessent’s embrace of shorter-duration bonds. Also they go long the price of oil and short the 10-year Treasury bond.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
You can email Robert Armstrong and Katie Martin at [email protected].
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
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On Wednesday Federal Reserve chair Jay Powell announced that US interest rates would remain unchanged. But the monetary policy committee is clearly worried that tariffs might slow growth and increase inflation. Today on the show, Rob Armstrong, Katie Martin and Aiden Reiter try to figure out why markets weren't worried by what they heard from the Fed. Also they go long Twitter (X… whatever) and short Tesla.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
You can email Robert Armstrong and Katie Martin at [email protected].
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
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As the US retreats from global commitments, Europe is re-arming. That will change the maths for companies and debt loads, in countries as different as Poland, Germany, Spain and Portugal. Today on the second part of Unhedged’s visit to the IE Business School in Madrid, hosts Katie Martin and Rob Armstrong talk with the FT’s Spain and Portugal correspondent Barney Jopson about the increase in military spending, and how it will all be paid for. Also they take questions from the audience.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
You can email Robert Armstrong and Katie Martin at [email protected].
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
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As Donald Trump continues to upend the US economy with a bizarre series of tariff announcements and reversals, Katie Martin and Rob Armstrong head to Spain. Today on the show, they host a live forum at the IE Business School in Madrid, covering an administration zig-zagging like a squirrel at rush hour and a market cowering in fear. Also, they take some questions from the audience.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
You can email Robert Armstrong and Katie Martin at [email protected].
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
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Investors have long been wary of China, piling into US markets, no matter what the climate. But is that changing? Today on the show, Rob Armstrong and Aiden Reiter talk to Ruchir Sharma, a columnist for the FT and investor at Rockefeller Capital Management, about the case for China now. Also they go long BYD, and long Vietnam.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
You can email Robert Armstrong and Katie Martin at [email protected].
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
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