Gloom and boom

The FT’s Unhedged podcast examines a striking market disconnect: equities rallying even as global economic news is negative and uncertainty rises. Hosts Katie Martin and Rob Armstrong explore drivers behind the market’s rally and the potential impact of forthcoming comments from Fed chair Jay Powell. The piece frames the strength in stocks as surprising given macro risks, and positions the podcast as a guide to interpreting whether the rally is durable or vulnerable to policy or economic shifts.