Unhedged

On paper, it’s a strong market. The S&P 500 is up more than 14 per cent this year. But for professional investors, it’s confusing. Most of the gains are driven by just seven stocks, all big tech names such as Apple and Nvidia. Take those seven out and the market is essentially flat, leaving traders wondering if they’re sitting out an AI bubble, or missing a real rally. Also, we go long gilts, which are yielding 5 per cent, and long …lettuce. Links:Stock market scramble has left investors skittish despite rallySubscribe to the Unhedged newsletterFollow Ethan Wu (@ethanywu) and Katie Martin (@katie_martin_fx) on TwitterRead a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Crypto is at a crossroads. As exchanges and currencies blow up, the US Securities and Exchange Commission is ready to step in. But is crypto a security, like a stock? Or a tradable item of speculation, like a Beanie Baby? Today on the show, Robert Armstrong and Ethan Wu argue about the benefits and risks of regulating crypto. Also, we go short home prices, and long … the bone trade.Subscribe to the Unhedged newsletterFollow Ethan Wu (@ethanywu) and Katie Martin (@katie_martin_fx) on TwitterRead a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

The US economy remains confusing. Markets continue to predict a slowdown but unemployment remains low. Today on the show, we try to figure out what job numbers, manufacturing and credit can tell us about a possible recession and an end to rate rises. Also, we are long the bros at Three Arrows Capital (sort of), and the US stock market. Subscribe to the Unhedged newsletter.Follow Ethan Wu (@ethanywu) and Katie Martin (@katie_martin_fx) on Twitter.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Ethan Wu, Katie Martin and other markets nerds at the Financial Times explain the big ideas behind what’s happening in finance right now. Every Tuesday and Thursday. Hosted on Acast. See acast.com/privacy for more information.