It’s been a hot summer, and not just in terms of weather. European and UK equities markets have matched US returns and are at record levels. Today on the show, Katie Martin talks with senior markets correspondent Ian Smith about the surprising returns for the old world. Also they go long Wetherspoon pubs and long implied volatility.&nbsp; Save 10% on tickets to the London FT Weekend Festival with the code FTPodcast. Visit <a href="http://ft.com/festival" rel="noopener noreferrer" target="_blank">ft.com/festival</a> to find out more. For a free 30-day trial to the Unhedged newsletter go to: <a href="https://www.ft.com/unhedgedoffer" rel="noopener noreferrer" target="_blank">https://www.ft.com/unhedgedoffer</a>. You can email Robert Armstrong and Katie Martin at <a href="mailto:unhedged@ft.com" rel="noopener noreferrer" target="_blank">unhedged@ft.com</a>. <a href="https://www.ft.com/content/99ca5e24-2f42-4fe4-ab14-af7a8c8af112" rel="noopener noreferrer" target="_blank">Read a transcript of this episode on FT.com</a><hr> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.

Does the market know anything about oil?

Katie Martin, Robert Armstrong and other markets nerds at the Financial Times explain the big ideas behind what’s happening in finance right now. Every Tuesday and Thursday. Hosted on Acast. See acast.com/privacy for more information.