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.

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Introducing: The Story of Money

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 world of finance.” This show sets out to prove the op...

1 Touko 1min

The Fed holds steady

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 show, Katie Martin and Rob Armstrong think about t...

30 Huhti 22min

Gloom and boom

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 Powell’s final comments. Also, they go short healt...

28 Huhti 23min

China Shock 2.0

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. Today on the show, the FT’s Beijing bureau chief Joe...

23 Huhti 23min

Trading disruption

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 of the wildest markets in decades. Also, they go ...

21 Huhti 23min

Boing! Springtime for the markets

Boing! Springtime 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 led the charge with a pivot to AI and saw its stock ...

16 Huhti 21min

Space ecstasy

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 Martin and Rob Armstrong speak with the FT’s west coas...

14 Huhti 23min

What has changed?

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 anything like what we had before February 28? Toda...

9 Huhti 20min

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