As the conflict in the Middle East expands to include Lebanon and Iran, markets are responding with surprising nonchalance. Why? And will that last? Today on the show, Katie Martin and capital markets correspondent Nick Megaw try to understand why so much can go wrong in one part of the world, without roiling markets in the rest of the world. Also, we go long the Vix, and short e-cycles.

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You can email Robert Armstrong at robert.armstrong@ft.com and Katie Martin at katie.martin@ft.com.

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Last week China announced it would be providing low-cost funds to investors in both equities and the property market. The nominal effects were immediate, and the country’s stock market has recently risen as much as 20 per cent. Boosting stock prices is one thing, but there is a bigger problem: can Beijing encourage more domestic spending, and less saving? Today on the show, Katie Martin discusses all this with the Unhedged newsletter's newest writer, Aiden Reiter, who, it turns out, speaks Mandarin. Also we go long morning swims and long our own show.

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You can email Katie Martin at katie.martin@ft.com and Aiden Reiter at aiden.reiter@ft.com.

Read a transcript of this episode on FT.com

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When discussing the economy after the interest rate cuts last week, chair of the US Federal Reserve Jay Powell made an interesting comment about jobs numbers and immigration. “If you are having millions of people come into the labour force, and you are creating 100,000 jobs, you’re going to see unemployment go up,” he said. Well, mostly. Today on the show, the entire staff of the Unhedged newsletter – Rob Armstrong and Aiden Reiter – get together to discuss how immigration might be affecting unemployment. Also, they go long and short China’s new stimulus programmes.

For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer

You can email Robert Armstrong at robert.armstrong@ft.com and Katie Martin at katie.martin@ft.com.

Read a transcript of this episode on FT.com

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As the Federal Reserve starts to lower interest rates, a perennial theory has returned: that small and mid caps will, for a time, grow more quickly than the S&P 500. Today on the show, Katie Martin, Rob Armstrong, and Aiden Reiter discuss whether that is good, or even true. Also, as the seasons change, we go long and short knitwear.

For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer

You can email Robert Armstrong at robert.armstrong@ft.com and Katie Martin at katie.martin@ft.com.

Read a transcript of this episode on FT.com

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In a massive surprise on Wednesday, one of Rob Armstrong’s predictions turned out to be right. The Fed did indeed cut interest rates by half a percentage point. A cut this big is deeply unusual, and normally happens in a crisis. But there are a lot of reasons to think we’re not in a crisis at all. Today on the show, Katie Martin and Rob Armstrong talk about what the Fed just did, and where the central bank is headed. Also, we go long European merger drama and short well-being at big banks.

For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer

You can email Robert Armstrong at robert.armstrong@ft.com and Katie Martin at katie.martin@ft.com.

Read a transcript of this episode on FT.com

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Apollo Global Management is publicly traded and one of the largest alternative asset managers in the world. But what does it really do? Today on the show, Rob Armstrong asks reporters Sujeet Indap and Eric Platt to describe the parts that make up Apollo. Also they go long Boeing and long News Corp.

For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer

You can email Robert Armstrong at robert.armstrong@ft.com and Katie Martin at katie.martin@ft.com.

Read a transcript of this episode on FT.com

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Forty years ago Ireland had a high number of emigrants and very few multinational corporations. Then it became a tax haven. Today, the country is the headquarters for the European arms of companies such as Apple, Google and Intel. The country also has an €8bn surplus, and is about to get €13bn more following a court ruling with the iPhone maker. Today on the show, Katie Martin and Irish economist David McWilliams try to figure out what Ireland should do with all this extra cash. Also they go short Trump Media and long the Netflix series, The Perfect Couple.

For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer

You can email Robert Armstrong at robert.armstrong@ft.com and Katie Martin at katie.martin@ft.com.

Read a transcript of this episode on FT.com

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Will the US central bank lower interest rates by 25 or 50 basis points? Fed chair Jay Powell has hinted rates are coming down, but not by how much. Today on the show, Katie Martin and Rob Armstrong take sides and argue the case for the expected 25 basis point cut, and a larger 50 basis point cut. Also we short Apple’s new phone, and go long the amazing technology of the veterinarian.

For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer

You can email Robert Armstrong at robert.armstrong@ft.com and Katie Martin at katie.martin@ft.com.

Read a transcript of this episode on FT.com

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