Whatever you may have read in the LAMESTREAM media, inflation DID NOT cool in January. Thank you for your attention to this matter!

Unhedged chart of the week: the very vertical Beveridge curve -- can it last? @hakyungkim.bsky.social Sign up here: www.ft.com/newsletter-s...

The biggest story in stock markets in the past 15 or 20 yrs has been “software eating the world...It strikes me as possible that the biggest market story in the next 15 or 20 yrs will be “software eating itself” - @robarmstrong.bsky.social here on the big market sell off www.ft.com/content/d5fb...

‘What is driving the improvement in cyclical-sector employment? Construction added 30,000 jobs in January and has been in positive territory in three of the past four months.’ www.ft.com/content/22c4... by @robarmstrong.bsky.social

Bitcoin trading right around 66666 today and still you nitwits won't take the hint

If you look at private employment only, and exclude health care, you can see how un-dynamic the job market has been since mid-2024. But you can also see a clear upward trend since October.

Good recent report from Barclays yesterday taking apart the very wrong K-Shaped economy narrative. US consumption HAS NOT become more unequal or skewed toward the rich lately. Everyone please stop talking about this.

At least half of my followers here are obvious bots. Am I especially attractive to these things, or is that normal on this platform?

Memory investors have forgotten the last cycle www.ft.com/content/4f4c... by @robarmstrong.bsky.social

Is that a lot? It sounds like a lot

"The math" had nothing to say about bitcoin on the way up, and it still has nothing to say on the way down. There is no math, there are no fundamentals. All the technical talk is circular bullshit. Have fun staying poor, or rich, or someplace in between, as determined by nothing in particular.

The FT's live Ask an Expert finally getting onto the good stuff... www.ft.com/content/c330...

This seems important www.kedglobal.com/korean-chipm...

Submit your questions ahead of a live Ask an Expert Q&A with US managing editor Brooke Masters and US financial commentator Robert Armstrong today at 2pm GMT ft.trib.al/p6KajDI

"Investors’ love affairs with growth, risk, and doubling down on whatever has been working are over. Previously unpopular, low-growth, defensive stocks are on top." @robarmstrong.bsky.social www.ft.com/content/78e5...

👂🏼 POD TIME 👂🏼 me and @robarmstrong.bsky.social on: -Warsh -Huh -What is he good for? -Being the Fed chair, apparently Featuring: -Great hair -Rollercoasters -grindcore open.spotify.com/episode/50hv...

Does warsh think there is a stronger correlation between the Fed balance sheet (blue) and inflation (green) than between the balance sheet and the Fed Funds rate (orange)?

Great map!

@robarmstrong.bsky.social framing it well on the other site:

Cars and Rocks - 1927 https://botfrens.com/collections/173/contents/3104422

And here is @robarmstrong.bsky.social's take on Kevin Warsh and the big bet implicit in the incoming Fed's chair's views www.ft.com/content/057a...

This has to be bad for (a) the students qand (b) the banks who hire them. Burn in all down. Depressing piece from @sindap.bsky.social giftarticle.ft.com/giftarticle/...

Powell said this about increased dollar hedging yesterday: "We really don’t see much at all about that ... There’s just not a lot of data that suggests that there’s much to that." Everyone I talk to in FX says *the opposite* WEIRD

I discuss the futureof the Taco trade with my mentor and friend @johnauthers.bsky.social andf @davidgura.bsky.social: open.spotify.com/episode/26TI...

You could describe it as a flaw in Tolkiens writing that all the evil people are stupid assholes who just want to stab each other in the back and have no plans other than general evil, but it turns out that’s exactly what evil people are like, he got it completely correct.

PODCAST TIME. 1. Can TACO save the dollar? 2. Is Rieder better than Warsh and Hassett? 3. WTF is happening in Japan?? AND WE ARE NOMINATED FOR A PRESTIGIOUS AWARD! Apple: podcasts.apple.com/us/podcast/t... spotify: open.spotify.com/episode/0pAZ...

Exceptional work by FT commentators here - h/t Niki Blasina, the author of this piece on millennial cringe and her pilgrimage to see the Backstreet Boys in concert www.ft.com/content/d50d...

👂POD TIME👂 Me and @robarmstrong.bsky.social on gold + silver going cray cray Featuring: - fear! 😱 - greed! 🥳 - winter fashion ❄️ - Rob being wrong 😵 - bitcoin bros also being wrong 🤣 - Melania, the movie 🫣 www.ft.com/content/8f30...

It's suit and hiking boots weather

@robarmstrong.bsky.social had a good write-up about his historic bearishness on gold. www.ft.com/content/d68e...

Taco journalists: THERE CAN BE ONLY ONE

the local government theory of everything

The TACO cycle: Markets want to price in TACO. But TACO only works if Trump sees stocks tank. So we get a loop: Trump does things → nothing happens (markets already priced in TACO) → that emboldens him to do more → until markets start to think he might not TACO → stocks fall → TACO is restored.

IF ONLY THERE WAS A SNAPPY ACRONYM

If you liked Mark Carney's speech, then have a listen to this podcast interview with the Canadian prime minister by @gideonrachman.bsky.social recorded just after that interview www.ft.com/content/19f1...

Joined @robarmstrong.bsky.social to chat what finl mkts make of US plans to invade its allies. Bleak stuff. podcasts.apple.com/gb/podcast/u...

@robarmstrong.bsky.social from TACO to FAFO? We don't know yet how it will go, but it will hurt both, Europe for sure. Long term the US too: a lot. giftarticle.ft.com/giftarticle/... 🎁

Regime change occurred in US stock markets back on October 29. The last are now first.

A Trump Card? In the unlikely event these things see the light of day, I have a foreboding there'll be some effort to tie them to stablecoins.

🏆👂POD TIME👂🏆 Stock-picking competition edition! Me, @lexiter.ft.com and @robarmstrong.bsky.social on: -what was hot/not in 2025? 📈📉 -have I reclaimed a shred of dignity? 😭 -crucially: did I beat Rob? 😬 -who the hell had the brains to buy silver miners a year ago?? 🤓 www.ft.com/content/5fec...

Don't miss @robarmstrong.bsky.social latest on fiscal dominance www.ft.com/content/25d3...

What happens when Trump wants fiscal dominance but his partners won’t submit? You can’t put the shit back in the donkey! All this and more from @robarmstrong.bsky.social and @katie0martin.ft.com

Did the good numbers even buy interest rates dinner first

ARMSTRONG: “.. The Trump administration’s actions have damaged the credibility of the next Fed chair .. The best hope for markets is that they don’t need the help of a credible and unified Fed in the next few years.” @financialtimes.com @robarmstrong.bsky.social www.ft.com/content/414a...

And a very smart take by @robarmstrong.bsky.social on why the market reaction was subdued to the threat against the Fed www.ft.com/content/414a...

The Fed and markets have a very serious problem ft.com/content/21b5...

If you think he's going to play nicely in markets/finance then I love that for you. Adorable. My thing this weekend: What is to stop Trump upending the rules in global finance too? - as.ft.com/r/53e52459-8...