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
Reposted by Ian Smith
November 14, 2025 at 8:19 AM
Reposted by Ian Smith
Streets have been renamed, Ukrainian monuments removed, and murals painted over. Bellingcat investigates how apartment blocks in the Ukrainian port city of Mariupol have been demolished to make way for a new Russian suburban utopia… www.bellingcat.com/uncategorize...
Building on Ruins: The Russification of Mariupol, One Apartment Block at a Time - bellingcat
Bellingcat has identified 23 multi-storey housing complexes being built in occupied Mariupol and advertised for sale to Russian citizens.
www.bellingcat.com
November 14, 2025 at 11:19 AM
Streets have been renamed, Ukrainian monuments removed, and murals painted over. Bellingcat investigates how apartment blocks in the Ukrainian port city of Mariupol have been demolished to make way for a new Russian suburban utopia… www.bellingcat.com/uncategorize...
Gilts stealing the show today – but on 'kilts'
Scotland’s deputy first minister tells @simeonkerr.bsky.social higher borrowing costs worth it to get foothold in bond market
Bond traders tell me kilt-gilt spread would serve as a "barometer" of independence risk
www.ft.com/content/a03b...
Scotland’s deputy first minister tells @simeonkerr.bsky.social higher borrowing costs worth it to get foothold in bond market
Bond traders tell me kilt-gilt spread would serve as a "barometer" of independence risk
www.ft.com/content/a03b...
Scotland to pay borrowing premium in £1.5bn bond market push
Deputy first minister Kate Forbes says extra cost of ‘kilts’ issuance worth it to build credibility with investors
www.ft.com
November 14, 2025 at 11:25 AM
Gilts stealing the show today – but on 'kilts'
Scotland’s deputy first minister tells @simeonkerr.bsky.social higher borrowing costs worth it to get foothold in bond market
Bond traders tell me kilt-gilt spread would serve as a "barometer" of independence risk
www.ft.com/content/a03b...
Scotland’s deputy first minister tells @simeonkerr.bsky.social higher borrowing costs worth it to get foothold in bond market
Bond traders tell me kilt-gilt spread would serve as a "barometer" of independence risk
www.ft.com/content/a03b...
November 14, 2025 at 8:19 AM
'Kilts' on the horizon...
Scotland given same credit rating as UK ahead of planned inaugural bond
www.ft.com/content/37bb...
by @simeonkerr.bsky.social + me
Scotland given same credit rating as UK ahead of planned inaugural bond
www.ft.com/content/37bb...
by @simeonkerr.bsky.social + me
a man with blue paint on his face is riding a horse with a sword .
ALT: a man with blue paint on his face is riding a horse with a sword .
media.tenor.com
November 12, 2025 at 9:53 PM
'Kilts' on the horizon...
Scotland given same credit rating as UK ahead of planned inaugural bond
www.ft.com/content/37bb...
by @simeonkerr.bsky.social + me
Scotland given same credit rating as UK ahead of planned inaugural bond
www.ft.com/content/37bb...
by @simeonkerr.bsky.social + me
The pound is quietly souring against the euro – though due more to mounting expectations of interest rate cuts than events in Westminster. Hit lowest in more than two years today
www.ft.com/content/9eb6...
www.ft.com/content/9eb6...
November 12, 2025 at 1:19 PM
The pound is quietly souring against the euro – though due more to mounting expectations of interest rate cuts than events in Westminster. Hit lowest in more than two years today
www.ft.com/content/9eb6...
www.ft.com/content/9eb6...
Westminster approaching a briefing singularity. Not helping investor nerves over Starmer/Reeves only a few months from the last wobble. Live blog:
on.ft.com/49bo3q5
on.ft.com/49bo3q5
UK politics live: Wes Streeting denies plan to challenge Starmer
[FREE TO READ] Sir Keir Starmer’s allies say prime minister is prepared to fight any challenge
on.ft.com
November 12, 2025 at 9:55 AM
Westminster approaching a briefing singularity. Not helping investor nerves over Starmer/Reeves only a few months from the last wobble. Live blog:
on.ft.com/49bo3q5
on.ft.com/49bo3q5
A year into this markets job, really getting somewhere: got my first "Hi Katie" email today
cc @katie0martin.ft.com
cc @katie0martin.ft.com
November 10, 2025 at 12:30 PM
A year into this markets job, really getting somewhere: got my first "Hi Katie" email today
cc @katie0martin.ft.com
cc @katie0martin.ft.com
icymi
Measures of expected dollar volatility have tumbled, and the currency's value has recovered some ground against peers, as investors and analysts say the "Trump shock" is over for FX markets...
By @emilydherbert.bsky.social, me + @kateduguid.bsky.social
www.ft.com/content/c817...
By @emilydherbert.bsky.social, me + @kateduguid.bsky.social
www.ft.com/content/c817...
Dollar volatility tumbles as currency markets move past ‘Trump shock’
Investor expectations of US currency swings have fallen to lowest since before last year’s presidential election
www.ft.com
November 10, 2025 at 8:27 AM
icymi
Measures of expected dollar volatility have tumbled, and the currency's value has recovered some ground against peers, as investors and analysts say the "Trump shock" is over for FX markets...
By @emilydherbert.bsky.social, me + @kateduguid.bsky.social
www.ft.com/content/c817...
By @emilydherbert.bsky.social, me + @kateduguid.bsky.social
www.ft.com/content/c817...
Dollar volatility tumbles as currency markets move past ‘Trump shock’
Investor expectations of US currency swings have fallen to lowest since before last year’s presidential election
www.ft.com
November 9, 2025 at 11:10 AM
Measures of expected dollar volatility have tumbled, and the currency's value has recovered some ground against peers, as investors and analysts say the "Trump shock" is over for FX markets...
By @emilydherbert.bsky.social, me + @kateduguid.bsky.social
www.ft.com/content/c817...
By @emilydherbert.bsky.social, me + @kateduguid.bsky.social
www.ft.com/content/c817...
AI rally has hit a bit of an air pocket. Latest from @tim.fo + George Steer
www.ft.com/content/8c6e...
www.ft.com/content/8c6e...
Tech stocks head for worst week since April after $900bn AI sell-off
Nasdaq has fallen 4% this week as investors worry about sky-high valuations
www.ft.com
November 7, 2025 at 3:05 PM
AI rally has hit a bit of an air pocket. Latest from @tim.fo + George Steer
www.ft.com/content/8c6e...
www.ft.com/content/8c6e...
November 7, 2025 at 2:47 PM
Live-blogging the BoE here
www.ft.com/content/9558...
www.ft.com/content/9558...
UK interest rates: Bank of England set for close vote on interest rates
Economists expect BoE to hold rates at 4 per cent but anticipate tight decision
www.ft.com
November 6, 2025 at 11:58 AM
Live-blogging the BoE here
www.ft.com/content/9558...
www.ft.com/content/9558...
In the ultra-competitive market for corporate pensions deals, and with credit spreads incredibly tight, big insurers are leveraging up their gilts to eke out higher returns.
Leveraged gilts backing pensions: never goes wrong obviously
www.ft.com/content/427a...
Leveraged gilts backing pensions: never goes wrong obviously
www.ft.com/content/427a...
Leverage creeps into gilts market as insurers seek to boost returns
Use of derivatives to enhance bets on UK government bonds raises parallels with strategies that fuelled 2022 meltdown
www.ft.com
November 6, 2025 at 7:24 AM
In the ultra-competitive market for corporate pensions deals, and with credit spreads incredibly tight, big insurers are leveraging up their gilts to eke out higher returns.
Leveraged gilts backing pensions: never goes wrong obviously
www.ft.com/content/427a...
Leveraged gilts backing pensions: never goes wrong obviously
www.ft.com/content/427a...
K-Pop Demons be careful, there be hunters out there tonight 🎃🎃🎃
October 31, 2025 at 7:46 PM
K-Pop Demons be careful, there be hunters out there tonight 🎃🎃🎃
Global debtmageddon moving further off?
Gauges of investor concern about long-term sovereign debt supply in US and UK have recovered in recent weeks, on a mix of
- QT slowing/stopping
- less pessimism on deficits
- moves to shorten sov debt maturity
www.ft.com/content/a86f...
Gauges of investor concern about long-term sovereign debt supply in US and UK have recovered in recent weeks, on a mix of
- QT slowing/stopping
- less pessimism on deficits
- moves to shorten sov debt maturity
www.ft.com/content/a86f...
Fed eases debt concerns with plan to end QT and buy more bonds
US central bank could begin net purchases of Treasuries early in 2026
www.ft.com
October 31, 2025 at 11:12 AM
Global debtmageddon moving further off?
Gauges of investor concern about long-term sovereign debt supply in US and UK have recovered in recent weeks, on a mix of
- QT slowing/stopping
- less pessimism on deficits
- moves to shorten sov debt maturity
www.ft.com/content/a86f...
Gauges of investor concern about long-term sovereign debt supply in US and UK have recovered in recent weeks, on a mix of
- QT slowing/stopping
- less pessimism on deficits
- moves to shorten sov debt maturity
www.ft.com/content/a86f...
Reposted by Ian Smith
The US govt shutdown has completely borked short term break-even inflation rates www.ft.com/content/560e...
What’s the market pricing for US inflation?
Don’t ask a bond trader
www.ft.com
October 30, 2025 at 9:14 AM
The US govt shutdown has completely borked short term break-even inflation rates www.ft.com/content/560e...
Classic scare story
A third of people in England believe in ghosts, survey finds
A third of people in England believe in ghosts, survey finds
National Folklore Survey, the first in over 60 years, found people aged 25-34 most likely to believe in the paranormal
It is the time of the year when the veil between the living and the dead is at its thinnest, and spirits walk the earth once more.
But it appears you are more likely to be visited by a ghost if you are under 35 years old, while spiritual creatures tend to avoid those who live in the East Midlands. Continue reading...
www.theguardian.com
October 30, 2025 at 5:49 PM
Classic scare story
If you've been yearning to ask @katie0martin.ft.com about bubbly markets, this is your chance
www.ft.com/content/8da5...
www.ft.com/content/8da5...
Submit your questions to Katie Martin: Are markets in a bubble?
Take part in a live Ask an Expert Q&A with the FT’s markets columnist Katie Martin on Thursday October 30, at 1pm GMT
www.ft.com
October 30, 2025 at 11:34 AM
If you've been yearning to ask @katie0martin.ft.com about bubbly markets, this is your chance
www.ft.com/content/8da5...
www.ft.com/content/8da5...
Reposted by Ian Smith
Step by step we move toward The Great Climate Insurance Collapse.
E&E News: Insurers flee wildfire-prone California despite state assistance
Regulations to enable large rate increases contrast with other state efforts to stabilize insurance markets.
subscriber.politicopro.com
October 28, 2025 at 7:53 PM
Step by step we move toward The Great Climate Insurance Collapse.
Today's must-read on increasingly massive US stock swings by @emilydherbert.bsky.social including the role of single-stock options and leverage
www.ft.com/content/e4b2...
www.ft.com/content/e4b2...
$100bn stock swings expose ‘fragility’ beneath Wall Street rally
Options and ETF frenzy have helped make largest US stocks more volatile, raising stakes ahead of Big Tech earnings
www.ft.com
October 28, 2025 at 11:37 AM
Today's must-read on increasingly massive US stock swings by @emilydherbert.bsky.social including the role of single-stock options and leverage
www.ft.com/content/e4b2...
www.ft.com/content/e4b2...
Gold now off 10% since the peak
It had got very silly (cf our goldmania Big Read a couple of weeks ago www.ft.com/content/3401...)
We mentioned some BofA analysis in there: after similar historical melt-ups, price busts have been larger
It had got very silly (cf our goldmania Big Read a couple of weeks ago www.ft.com/content/3401...)
We mentioned some BofA analysis in there: after similar historical melt-ups, price busts have been larger
October 28, 2025 at 11:31 AM
Gold now off 10% since the peak
It had got very silly (cf our goldmania Big Read a couple of weeks ago www.ft.com/content/3401...)
We mentioned some BofA analysis in there: after similar historical melt-ups, price busts have been larger
It had got very silly (cf our goldmania Big Read a couple of weeks ago www.ft.com/content/3401...)
We mentioned some BofA analysis in there: after similar historical melt-ups, price busts have been larger
Your must-read today via @leeharris.ft.com, Euan Healy
Private loan credit ratings may be ‘systematically’ inflated, warns BIS
www.ft.com/content/9d1f...
Private loan credit ratings may be ‘systematically’ inflated, warns BIS
www.ft.com/content/9d1f...
Private loan credit ratings may be ‘systematically’ inflated, warns BIS
Lack of transparency of debt popular with US insurers increases risk of ‘fire sales’, report says
www.ft.com
October 27, 2025 at 1:30 PM
Your must-read today via @leeharris.ft.com, Euan Healy
Private loan credit ratings may be ‘systematically’ inflated, warns BIS
www.ft.com/content/9d1f...
Private loan credit ratings may be ‘systematically’ inflated, warns BIS
www.ft.com/content/9d1f...