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Unhedged
Unhedged
Financial Times & Pushkin Industries

Katie Martin, Robert Armstrong and other markets nerds at the Financial Times explain the big ideas behind what’s happening in finance right... more

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Episodes

The real cost of a trade war

Trump folded on Wednesday, reducing his so-called “reciprocal” tariffs across the board, with the notable exception of massive taxes on... more

10 Apr 2025 · 21 minutes
Surveying the wreckage

As the markets try to absorb and value the announced US tariffs, China has responded with its own levies. Today on... more

08 Apr 2025 · 22 minutes
Tariffs up. Markets down

On April 2, in the Rose Garden of the White House, President Donald Trump announced taxes on almost every kind... more

03 Apr 2025 · 23 minutes
Vibes vs data

 Markets, investors and companies are all feeling a little bit jumpy about the state of the economy. Surveys of managers,... more

01 Apr 2025 · 24 minutes
What does CoreWeave’s IPO say about the market?

CoreWeave’s IPO is one of the odder tech plays to come along in a few years. It buys chips from... more

27 Mar 2025 · 24 minutes
Can Trump drive down bond yields?

President Donald Trump has been clear he wants lower interest rates. Cheaper money would goose the market and give the... more

25 Mar 2025 · 23 minutes
Dour Fed, cheery market

On Wednesday Federal Reserve chair Jay Powell announced that US interest rates would remain unchanged. But the monetary policy committee... more

20 Mar 2025 · 23 minutes
How will Europe pay for its new weapons?

As the US retreats from global commitments, Europe is re-arming. That will change the maths for companies and debt loads,... more

18 Mar 2025 · 31 minutes
Make America Gyrate Again

As Donald Trump continues to upend the US economy with a bizarre series of tariff announcements and reversals, Katie Martin... more

13 Mar 2025 · 28 minutes
The case for China

Investors have long been wary of China, piling into US markets, no matter what the climate. But is that changing?... more

11 Mar 2025 · 21 minutes