Unhedged

George Steer, a correspondent from the markets team in NYC, brings his expertise on microcaps. He discusses the surge of small cap IPOs, particularly from Chinese companies like a hot pot chain. The conversation dives into the motivations of underwriters and the implications of regulatory changes. They also explore the volatility of U.S.-China financial ties and critique the speculative nature of microcap investments. Finally, Steer shares laughs over a DJ's misstep and reflects on fashion choices at a recent event.

Alan Beattie, a trade expert and Financial Times writer, joins to unravel the recent UK trade deal's details and its implications. They dive into the unpredictable nature of US-China trade negotiations, the informal aspects of the UK-US deal, and the significant challenges it poses to global trade norms. Beattie also discusses the resilience of global supply chains post-COVID and shares humorous insights on the effects of the UK's dry weather on gardening, blending serious trade analysis with light-hearted anecdotes.

Lower-than-expected inflation and evolving trade negotiations with China sparked optimism in the market. The hosts dive into whether Americans are genuinely feeling good or just relieved. They analyze the complex dynamics of tariffs and market responses, focusing on corporate strategies and central bank adaptations amid economic uncertainty. Adding a dash of humor, they discuss trading strategies alongside entertaining Pope memes while also shorting gold. A lively mix of serious economic insights and light-hearted banter keeps listeners engaged.

Warren Buffett's retirement announcement sparks a reflection on his unique investment legacy. The hosts delve into his journey from humble beginnings to global icon while assessing the challenges of succession. They explore the relentless energy behind influential business leaders and the importance of genuine talent over imitation. As they critique Google's evolving landscape, they also emphasize the need for investors to remain vigilant against complacency in a shifting economic environment.

Ian Smith, a Financial Times reporter specializing in markets, joins the conversation to unveil the shift from U.S. investments towards Europe. He delves into the reasons behind this trend, highlighting rising political risks and the decline of the S&P 500. The discussion touches on the growing preference for European assets among institutional investors, the intriguing dynamics of currency hedging, and the implications for the dollar's future. Smith also adds a playful twist by exploring asset allocation strategies and economic sentiment.

The hosts dissect a surprising dip in GDP, revealing the complexities behind the negative growth figure. They explore the disconnect between consumer spending and economic data, highlighting the K-shaped recovery’s impact on different income levels. Discussions also touch on the repercussions of declining oil prices and reduced imports on both consumption and production. Tariff strategies and their influence on the economy, especially for low-income Americans, take center stage, making for a nuanced look at current market dynamics.

International cargo freight is facing a serious decline, raising alarms about empty shelves just in time for the holidays. The hosts debate whether political influences will affect trade dynamics, especially in light of previous tariff impacts on consumer costs. While exploring the complexities of U.S.-China trade, they also examine a mixed investor sentiment highlighted by a popular survey. The conversation lightens up with a humorous discussion about fast food preferences, including gourmet treats versus beloved classics, capturing the joy of culinary indulgence.

The current administration rode in on a wave of support from America’s traders, lenders and money managers. But that might be changing. Today on the show, Rob Armstrong talks to the FT’s US finance editor, James Fontanella-Khan, about what the titans of Wall Street really think about President Donald Trump. Also they go long AC Milan and short the market. 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 unhedged@ft.com.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

With the continuing decline in the price of US Treasuries, Katie, Rob and Aiden take up the debate about the future of America’s status as a truly exceptional safe haven. Today on the show, the trio discuss the damage President Donald Trump has already done and ask how long it will last. Afterwards, they take long and short bets on 10-year Treasuries, the S&P 500 and the euro/dollar trade. 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 unhedged@ft.com.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

John Foley, Head of Lex and a tech enthusiast, dives into the recent plunge of Nvidia shares due to U.S. export bans on technology to China, impacting their H20 chip forecast. He sheds light on the broader implications for AI development and the geopolitical landscape affecting tech markets. The conversation also covers challenges in semiconductor regulations, market confidence, and the rise of new ventures like DeepSeek, all while keeping a humorous twist with the mention of 'Sperm Racing.'