Ian Smith
@iankmsmith.ft.com
Senior Markets Correspondent at the Financial Times. Previously insurance, markets, finance, stocks, pensions, you get the idea
Stories: https://www.ft.com/ian-smith
Contact: [email protected]
Stories: https://www.ft.com/ian-smith
Contact: [email protected]
Pinned
Ian Smith
@iankmsmith.ft.com
· Oct 14
“I thought it was important to have something that physically exists, something you can actually hold in your hands"
We dig into one of the markets stories of the year: gold mania
www.ft.com/content/3401...
Story by me, Leslie Hook, Harry Dempsey, data visualisation by @raydouglas.bsky.social
We dig into one of the markets stories of the year: gold mania
www.ft.com/content/3401...
Story by me, Leslie Hook, Harry Dempsey, data visualisation by @raydouglas.bsky.social
we keep getting these warnings over the perils of over-concentration on a few big service providers
we will definitely not ignore them and carry on
we will definitely not ignore them and carry on
November 28, 2025 at 4:17 PM
we keep getting these warnings over the perils of over-concentration on a few big service providers
we will definitely not ignore them and carry on
we will definitely not ignore them and carry on
I forgot to share this from @robertshrimsley.bsky.social. V funny and bang on. Speaking as a repeat offender myself
www.ft.com/content/5a0d...
www.ft.com/content/5a0d...
How do I learn when to shut up in meetings?
It’s too late for me, but you can still follow my advice
www.ft.com
November 28, 2025 at 2:03 PM
I forgot to share this from @robertshrimsley.bsky.social. V funny and bang on. Speaking as a repeat offender myself
www.ft.com/content/5a0d...
www.ft.com/content/5a0d...
Reposted by Ian Smith
Active DMO when there’s a lot of risk premia out the curve and uncertainty over the scale of structural demand for long bonds is smart and necessary
November 28, 2025 at 11:12 AM
Active DMO when there’s a lot of risk premia out the curve and uncertainty over the scale of structural demand for long bonds is smart and necessary
Reversing into a pure mansion tax at the last minute because everything else has failed is the kind of unintentional political strategy I can get behind
on.ft.com/4pA1v7o
on.ft.com/4pA1v7o
Chancellor swoops on landlords and wealthy homeowners
[FREE TO READ] Rachel Reeves unveils increase in property income tax as well as ‘mansion tax’ on expensive homes
on.ft.com
November 26, 2025 at 10:35 PM
Reversing into a pure mansion tax at the last minute because everything else has failed is the kind of unintentional political strategy I can get behind
on.ft.com/4pA1v7o
on.ft.com/4pA1v7o
lol at events today
“is this it?”
“is this it?”
November 26, 2025 at 8:51 PM
lol at events today
“is this it?”
“is this it?”
Happy Budget Day
Treasury will be hoping for a markets non-event today, after a rise in borrowing at last year's Budget landed badly with investors
Live blog 👇
www.ft.com/content/d0a5...
Treasury will be hoping for a markets non-event today, after a rise in borrowing at last year's Budget landed badly with investors
Live blog 👇
www.ft.com/content/d0a5...
What to watch for in the Budget
www.ft.com
November 26, 2025 at 9:53 AM
Happy Budget Day
Treasury will be hoping for a markets non-event today, after a rise in borrowing at last year's Budget landed badly with investors
Live blog 👇
www.ft.com/content/d0a5...
Treasury will be hoping for a markets non-event today, after a rise in borrowing at last year's Budget landed badly with investors
Live blog 👇
www.ft.com/content/d0a5...
Traders gobble up sterling puts as they position for a Budget that will add to downward pressure on the pound. By @rachel-rees.bsky.social + me
www.ft.com/content/fefd...
www.ft.com/content/fefd...
Currency traders bet against sterling ahead of Budget
Investors buy option protection on fears Rachel Reeves’ tax-raising measures could hurt growth
www.ft.com
November 25, 2025 at 9:01 AM
Traders gobble up sterling puts as they position for a Budget that will add to downward pressure on the pound. By @rachel-rees.bsky.social + me
www.ft.com/content/fefd...
www.ft.com/content/fefd...
the picture in this story is literally 🤷♂️
www.ft.com/content/3df2...
www.ft.com/content/3df2...
Leaked BBC memo was not meant to trigger crisis, author says
Michael Prescott tells MPs there was ‘no ideology at play’ in document that led to exit of director-general
www.ft.com
November 24, 2025 at 5:02 PM
the picture in this story is literally 🤷♂️
www.ft.com/content/3df2...
www.ft.com/content/3df2...
What does the bond market actually want from the UK Budget?
Answers to that question can be noisy + politicised
So here are quite a few of the biggest gilt investors, speaking for themselves, on what they are looking for on Wednesday
www.ft.com/content/e01f...
Answers to that question can be noisy + politicised
So here are quite a few of the biggest gilt investors, speaking for themselves, on what they are looking for on Wednesday
www.ft.com/content/e01f...
What big bond investors want from the UK Budget
Gilt market players call on government to cut spending and steer clear of inflationary tax rises
www.ft.com
November 24, 2025 at 9:04 AM
What does the bond market actually want from the UK Budget?
Answers to that question can be noisy + politicised
So here are quite a few of the biggest gilt investors, speaking for themselves, on what they are looking for on Wednesday
www.ft.com/content/e01f...
Answers to that question can be noisy + politicised
So here are quite a few of the biggest gilt investors, speaking for themselves, on what they are looking for on Wednesday
www.ft.com/content/e01f...
"I never thought I had to choose before, but now I'm feeling like Christianity could be replaced, so that's why I feel the church needs support”
intriguing story on a kind of faith signalling
www.bbc.com/news/article...
intriguing story on a kind of faith signalling
www.bbc.com/news/article...
Why Tommy Robinson supporters are turning to Christianity
The Church of England is grappling with what to do about followers of the far-right figure embracing faith.
www.bbc.com
November 23, 2025 at 12:56 PM
"I never thought I had to choose before, but now I'm feeling like Christianity could be replaced, so that's why I feel the church needs support”
intriguing story on a kind of faith signalling
www.bbc.com/news/article...
intriguing story on a kind of faith signalling
www.bbc.com/news/article...
"Lots of cracks have been visible around the edges for a while"
Global stocks are struggling to find a foothold
www.ft.com/content/2476...
Global stocks are struggling to find a foothold
www.ft.com/content/2476...
Global stocks slide after sharp reversal on Wall Street
Nasdaq and S&P 500 sink on Thursday as investor fears reignite over AI valuations
www.ft.com
November 21, 2025 at 10:48 AM
"Lots of cracks have been visible around the edges for a while"
Global stocks are struggling to find a foothold
www.ft.com/content/2476...
Global stocks are struggling to find a foothold
www.ft.com/content/2476...
The UK is “one of the countries which can be disciplined by the bond market right now”
For today's The State of Britain newsletter, I wrote about how the gilt market might greet the Budget
on.ft.com/3XEmv0y
For today's The State of Britain newsletter, I wrote about how the gilt market might greet the Budget
on.ft.com/3XEmv0y
November 20, 2025 at 10:25 PM
The UK is “one of the countries which can be disciplined by the bond market right now”
For today's The State of Britain newsletter, I wrote about how the gilt market might greet the Budget
on.ft.com/3XEmv0y
For today's The State of Britain newsletter, I wrote about how the gilt market might greet the Budget
on.ft.com/3XEmv0y
Great portrait of Rachel Reeves by @georgewparker.bsky.social + Sam Fleming
www.ft.com/content/346e...
www.ft.com/content/346e...
Rachel Reeves’ gambit
A year after her last bombshell Budget, the chancellor is once again mired in political chaos. Could the fallout consume both her and Sir Keir Starmer?
www.ft.com
November 20, 2025 at 12:05 PM
Great portrait of Rachel Reeves by @georgewparker.bsky.social + Sam Fleming
www.ft.com/content/346e...
www.ft.com/content/346e...
Front page story from @emilydherbert.bsky.social on a record run in UK stocks and a record run out of domestic UK stock funds 🤷♂️
“The UK equity market is the unexpected winner of 2025, but UK investors don’t seem to care" says one equity strategist
on.ft.com/4oJ4bzo
“The UK equity market is the unexpected winner of 2025, but UK investors don’t seem to care" says one equity strategist
on.ft.com/4oJ4bzo
UK investors pull out of London stock market at record pace
[FREE TO READ] Outflows come as inflows from foreign investors help propel FTSE 100 to record high
on.ft.com
November 20, 2025 at 9:41 AM
Front page story from @emilydherbert.bsky.social on a record run in UK stocks and a record run out of domestic UK stock funds 🤷♂️
“The UK equity market is the unexpected winner of 2025, but UK investors don’t seem to care" says one equity strategist
on.ft.com/4oJ4bzo
“The UK equity market is the unexpected winner of 2025, but UK investors don’t seem to care" says one equity strategist
on.ft.com/4oJ4bzo
investors say genuine alpha is hard to find
so, good news! you can subscribe to FTAV on Substack
www.ft.com/content/0cbe...?
so, good news! you can subscribe to FTAV on Substack
www.ft.com/content/0cbe...?
FT Alphaville is finally getting a Substack
Stacking subs
www.ft.com
November 19, 2025 at 11:29 AM
investors say genuine alpha is hard to find
so, good news! you can subscribe to FTAV on Substack
www.ft.com/content/0cbe...?
so, good news! you can subscribe to FTAV on Substack
www.ft.com/content/0cbe...?
Nice story from @jsphctrl.ft.com + @costasmourselas.bsky.social on some winners from the US's support for Argentina
www.ft.com/content/b282...
www.ft.com/content/b282...
Hedge funds’ bets on Argentina pay off after US bailout
Emerging market and distressed debt specialists post big returns after US support and electoral win boost Buenos Aires
www.ft.com
November 19, 2025 at 10:59 AM
Nice story from @jsphctrl.ft.com + @costasmourselas.bsky.social on some winners from the US's support for Argentina
www.ft.com/content/b282...
www.ft.com/content/b282...
“The Chinese are hedging, the Europeans are hedging . . . it’s come to a point now where the cost of my hedge is becoming too much"
Very interesting one from @owenwalker0.ft.com on how Singapore state-owned investor Temasek is responding to dollar weakness
www.ft.com/content/2d64...
Very interesting one from @owenwalker0.ft.com on how Singapore state-owned investor Temasek is responding to dollar weakness
www.ft.com/content/2d64...
Singapore’s Temasek warns weak US dollar is hitting returns
Chief executive Dilhan Pillay says fall in greenback a ‘big issue’ for overseas investors
www.ft.com
November 19, 2025 at 10:58 AM
“The Chinese are hedging, the Europeans are hedging . . . it’s come to a point now where the cost of my hedge is becoming too much"
Very interesting one from @owenwalker0.ft.com on how Singapore state-owned investor Temasek is responding to dollar weakness
www.ft.com/content/2d64...
Very interesting one from @owenwalker0.ft.com on how Singapore state-owned investor Temasek is responding to dollar weakness
www.ft.com/content/2d64...
As 🌨️ falls in London, traders are dreaming of a 🎅🎄 rate cut from the Bank of England after inflation 📉
www.ft.com/content/1dde...
www.ft.com/content/1dde...
UK inflation falls to 3.6% in October
Figure strengthens case for Bank of England rate cut next month
www.ft.com
November 19, 2025 at 9:51 AM
As 🌨️ falls in London, traders are dreaming of a 🎅🎄 rate cut from the Bank of England after inflation 📉
www.ft.com/content/1dde...
www.ft.com/content/1dde...
"There is a fear in the market that the stance of the government is now pretty dovish ... that the government is going to have to issue longer-dated bonds to fund its spending plans"
The JGB sell-off is hotting up via @urbandirt.bsky.social + me
www.ft.com/content/d6f2...
The JGB sell-off is hotting up via @urbandirt.bsky.social + me
www.ft.com/content/d6f2...
November 19, 2025 at 9:48 AM
"There is a fear in the market that the stance of the government is now pretty dovish ... that the government is going to have to issue longer-dated bonds to fund its spending plans"
The JGB sell-off is hotting up via @urbandirt.bsky.social + me
www.ft.com/content/d6f2...
The JGB sell-off is hotting up via @urbandirt.bsky.social + me
www.ft.com/content/d6f2...
big-hearted stuff here
“A lot of people didn’t like that gentleman you’re talking about"
www.ft.com/content/dc11...
"Quiet, piggy"
www.bbc.co.uk/news/videos/...
“A lot of people didn’t like that gentleman you’re talking about"
www.ft.com/content/dc11...
"Quiet, piggy"
www.bbc.co.uk/news/videos/...
November 18, 2025 at 11:12 PM
big-hearted stuff here
“A lot of people didn’t like that gentleman you’re talking about"
www.ft.com/content/dc11...
"Quiet, piggy"
www.bbc.co.uk/news/videos/...
“A lot of people didn’t like that gentleman you’re talking about"
www.ft.com/content/dc11...
"Quiet, piggy"
www.bbc.co.uk/news/videos/...
Interesting line today – as AI capex boom continues, a majority of global fund managers now think companies are overinvesting, according to BofA survey
www.ft.com/content/e2d9...
www.ft.com/content/e2d9...
Fund managers alarmed by corporate investment boom as AI bubble fears grow
Bank of America survey shows a majority of money managers think companies are overinvesting
www.ft.com
November 18, 2025 at 11:50 AM
Interesting line today – as AI capex boom continues, a majority of global fund managers now think companies are overinvesting, according to BofA survey
www.ft.com/content/e2d9...
www.ft.com/content/e2d9...
Another sign of the times in the Eurozone
@olafstorbeck.ft.com @barneyjopson.bsky.social report with an assist from me www.ft.com/content/6b8d...
@olafstorbeck.ft.com @barneyjopson.bsky.social report with an assist from me www.ft.com/content/6b8d...
Spain’s deficit to fall below Germany’s for the first time in two decades
Spanish fiscal position aided by political paralysis
www.ft.com
November 17, 2025 at 9:49 AM
Another sign of the times in the Eurozone
@olafstorbeck.ft.com @barneyjopson.bsky.social report with an assist from me www.ft.com/content/6b8d...
@olafstorbeck.ft.com @barneyjopson.bsky.social report with an assist from me www.ft.com/content/6b8d...
After having a weekend to think about it all, the gilt market is rn back to trading in line with peers
www.ft.com/content/b38b...
www.ft.com/content/b38b...
Gilts stabilise after tax U-turn sell-off
Bond investors remain on alert ahead of Budget
www.ft.com
November 17, 2025 at 9:00 AM
After having a weekend to think about it all, the gilt market is rn back to trading in line with peers
www.ft.com/content/b38b...
www.ft.com/content/b38b...
Real ones will get this…
In the car, Take It Easy comes on the radio
“It’s the Eagles” my wife says to kids in the back
My contrarian 3yo not missing a beat: “I hate the Eagles”
In the car, Take It Easy comes on the radio
“It’s the Eagles” my wife says to kids in the back
My contrarian 3yo not missing a beat: “I hate the Eagles”
a man with long hair and a beard is sitting in a car looking out the window
ALT: a man with long hair and a beard is sitting in a car looking out the window
media.tenor.com
November 15, 2025 at 5:08 PM
Real ones will get this…
In the car, Take It Easy comes on the radio
“It’s the Eagles” my wife says to kids in the back
My contrarian 3yo not missing a beat: “I hate the Eagles”
In the car, Take It Easy comes on the radio
“It’s the Eagles” my wife says to kids in the back
My contrarian 3yo not missing a beat: “I hate the Eagles”