Unhedged

Breaking down the bond market

Government bonds keep the lights on for countries all over the world and set the cost of money for everyone from the US to your mortgage lender. But even as bonds experie

UK bets on a boring budget

Britain’s chancellor of the exchequer John Healey will deliver his annual budget on October 28. And with the UK facing the highest borrowing costs in the G7, the spending

The AI boom stumbles

Tech stocks and bonds took a kicking on Thursday, adding urgency to a question investors have been asking themselves for months now: is the AI boom about to go splat? Kat

Mortgages, diesel and the US midterms

US consumers are still in love with buying things, buoyed by stock markets that are near all-time highs. But could sky-high mortgages and diesel prices spoil their shoppi

Is France too blasé about borrowing costs?

France’s borrowing costs are skyrocketing. And its leading candidates for next April’s presidential elections - on both extremes of the political spectrum - seem alarming

There is only one trade

It’s starting to look like every market is becoming a one-trick pony. Since the summer, stock markets would have been down – were it not for the Big Tech companies gallop

Hyperscale my debt!

While most people are distracted by the latest blow-up in US Treasuries, our hosts Katie Martin and Rob Armstrong lift the lid on a less watched corner of the debt market

An ode to stock picking

Over the summer, the FT held a revamped version of its stock picking game – think fantasy football for the global equity markets. Some 13,000 people took part – a shockin

Bond bombshell

Global bond yields took a big leg up on Wednesday, with the US 10-year Treasury now well north of 5 per cent. Could further rises trip up a heavily indebted government? O

Turkish dismay

Investment funds boast triple-digit returns. Retail investors enthusiastically pile in. Then – surprise! – they turn out to be scams… and implode. The story that played o

News alert: Fed acts normal

In response to persistently above-target inflation, the Federal Reserve raised interest rates a quarter-point this week. Typically, this would not merit a full podcast. B

Should markets discount the AI apocalypse?

When the Terminator robots come for us all, will there be anywhere safe to run? Certainly not the US Treasury market, where the 10-year yield just broke the totemic 5% le

Oil, yen and egonomics

US Treasury secretary Scott Bessent cowed currency traders this week by claiming anyone shorting the yen was betting against “the house”. But he has failed to will US gov

Unhedged Live: How Katie was “right all along”

Katie called it – so she claims. There are signs that foreign investors may be losing trust in US assets. This has been the source of a running debate between the hosts K

Dear Brits, please save more

Britain has a problem. Almost half of the country’s working age adults are not saving into a pension at all. So if you know somebody who isn’t thinking enough about their

Warsh and peace

Fed chair Kevin Warsh used his speech at the annual Jackson Hole gathering of central bankers to tell bond markets he was serious about keeping a lid on inflation and eve

Canada says no thank you

Canada and the US reached an impasse over trade this week, as Canadian Prime Minister Mark Carney refused to meet the demands of US President Donald Trump. Today on the s

Bombing the bond market

Last week Treasury secretary Scott Bessent directed his department to double its purchase of treasuries, in an attempt to bring down the yield. Of course, it backfired. T

Heatwaves and waterways

With Europe’s record-breaking heat and droughts this summer, water levels in Germany's Rhine river have reached historic lows. Today on the show, Katie Martin talks with

Does the market know anything about oil?

US reserves are the lowest they have been for many decades. Today on the show, Katie Martin and the FT’s Energy Editor Malcolm Moore try to figure out why the market has