There is fast money and there is real money. Fast money means day traders and hedge funds, who jump in and out on the day's news. But the real money — that of governments and insurance and pension funds — moves much more slowly, and with greater effect. Today on the show, Katie Martin speaks with Ian Smith on what may be a slow turn of allocation out of the US and into Europe. Also they go short consumer confidence and long lepidoptery.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
You can email Robert Armstrong and Katie Martin at unhedged@ft.com.