Are the markets right or wrong about Iran?
3/17/202622 min
Oil is up, bombs are falling and investors are increasing their piles of cash. But the market isn’t far off its highs. Today on the show, Katie Martin and Rob Armstrong try to square the dismal news with the sanguine market. Also they go short quarterly reporting and long introspection.
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You can email Robert Armstrong and Katie Martin at unhedged@ft.com.
Read a transcript of this episode on FT.com
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Transcript preview
First 90 secondsKatie Martin· Host0:00
[upbeat music] Pushkin. The mood among investors is bad. They are super spooked by Iran and also by private credit. But financial markets, stocks, bonds, currencies, all that jazz, they're kind of fine. Like not rosy, but also very much not terrible. It's quite a weird contrast, and it suggests that despite every headline on Iran, every new development, investors are still fixed on the idea that somehow the war in the Middle East and the blockage of the Strait of Hormuz will just somehow magically blow over. Today on the show, how can everything be awful and fine at the same time? Is the market right or wrong? This is Unhedged, the markets and finance podcast once again for normal people from the Financial Times and Pushkin. [laughs] I'm Katy Martin, a markets columnist here at FT Towers in bright and sunny London, joined down the line from New York City by First Sea Lord Robert Armstrong, my partner in crime on the Unhedged newsletter, which you should all sign up to at once. Rob, it's still chilly out there, though. That must be getting quite boring by now.
Robert Armstrong· Host1:18
Oh, it's horrible. As I've said on a previous show- [laughs] ... there's nothing as horrible as the month of March. It's freezing outside today.
Katie Martin· Host1:25
Now we have received multiple emails from listeners since the last show saying,