Unhedged

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 of the wildest markets in decades. Also, they go long volatility and long honesty about plans to control the world.

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.

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 led the charge with a pivot to AI and saw its stock leap 774 per cent. Today on the show, Katie Martin and Rob Armstrong try to figure out why investors are so excited. Also they go long kebabs and the Strait of Vermouth.

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.

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 Martin and Rob Armstrong speak with the FT’s west coast editor Richard Waters about the SpaceX listing and why it isn’t like any other IPO. Also, they go long papal news, southern California and magnolia trees.

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 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 anything like what we had before February 28? Today on the show, Katie Martin and Rob Armstrong try to understand the meaningful changes that will persist. Also, they go long bank earnings and short "maxing" anything.

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.

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, too. Today on the show, Rob Armstrong and Hakyung Kim discuss “guns and butter”, and the state of consumer credit. Also they go short flights to Europe and short AI glasses.

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.