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.

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.

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.

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.

The president proposes and the markets dispose … of recent gains. Tariffs, deportations, budget cuts, political isolation and other “exciting” new plans seem to be unsettling investors, who are leaving US equities and heading for the safety of bonds. Today on the show, Rob Armstrong and head of the Lex column John Foley look at some of the falling stocks and try to figure out how much risk investors will ultimately take off the table. Also they go long potash and long 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.

President Donald Trump has loudly proclaimed his desire for lower interest rates. Jay Powell, chair of the Federal Reserve, responding to persistent inflation, has kept rates higher. And keeps mentioning that he can’t be fired. But is this true? Today on the show, the FT’s economics commentator Chris Giles joins Katie Martin to discuss an upcoming legal case that might increase the president’s ability to fire the heads of agencies. Also we go short the Atlanta Fed and long vowels. 

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.

President Donald Trump’s abandonment of Ukraine has been a great success … for European defence companies. Meanwhile, traders are selling American defence contractors, and the US market is sluggish. Now the president is threatening huge tariffs on Europe. Today on the show, Rob Armstrong and Aiden Reiter struggle to understand what the Trump administration actually wants and how far the American exceptionalism trade can really go. Also we go long the dollar and long the Oscars. 

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.

Have the vibes shifted? Slowing growth and stubborn inflation seem to be putting a chill on a once exuberant market. Today on the show, Rob Armstrong and Aiden Reiter ask if this all adds up to “stagflation”, one of the scariest words in the economic lexicon. Also they go short US defence stocks. 

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.

The markets are booming but there are fewer and fewer new entrants. And they don’t seem to be exciting to investors. Today on the show, Katie Martin and Aiden Reiter talk with Jenn Hughes about her latest newsletter on the weak IPO market. Also they go long the 10-year treasury and short the Treasury secretary’s plans to “monetize” the federal balance sheet. 

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.

Donald Trump and his Treasury secretary have signaled their support for a sovereign wealth fund. Joe Biden and Kamala Harris also discussed it. But is it a good idea? Today on the show, Katie Martin and Aiden Reiter make the case for and against a radical new plan for American capital. Also, they go long the reappearance of Chinese billionaire Jack Ma, and long Diet Coke. 

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.