Accessibility helpSign InSubscribeFinancial TimesSubscribeSign InHomeWorldWorld HomeMiddle East warGlobal EconomyUKUSChinaAfricaAsia PacificEmerging MarketsEuropeWar in UkraineAmericasMiddle East & North AfricaTrump’s Venezuela strategy has failed in IranKharg Island: Iran’s oil lifeline that Trump has left untouchedWhich economies will pay the biggest price for the Iran war?Farage misses out on Trump meeting as their relationship coolsG7 discuss joint release of emergency oil reservesUSUS HomeUS EconomyUS CompaniesUS Politics & PolicyTrump’s Venezuela strategy has failed in IranKharg Island: Iran’s oil lifeline that Trump has left untouchedWhich economies will pay the biggest price for the Iran war?Farage misses out on Trump meeting as their relationship coolsIran war will leave a complex geoeconomic legacyCompaniesCompanies HomeEnergyFinancialsHealthIndustrialsMediaProfessional ServicesRetail & ConsumerTech SectorTelecomsTransportKharg Island: Iran’s oil lifeline that Trump has left untouchedWhich economies will pay the biggest price for the Iran war?G7 discuss joint release of emergency oil reservesEx-EY executive launches private equity-backed tax firm to challenge Big FourSheryl Sandberg and Nick Clegg join Nvidia-backed AI start-up NscaleTechTech HomeArtificial intelligenceSemiconductorsCyber SecuritySocial MediaSheryl Sandberg and Nick Clegg join Nvidia-backed AI start-up NscaleAnthropic sues Pentagon claiming supply chain risk label could cost billions in revenueKKR eyes multibillion-dollar sale of data centre cooling companyMicrosoft adds Anthropic AI models to its Copilot workplace toolsDarktrace names third chief in 18 months amid US expansion driveMarketsMarkets HomeAlphavilleMarkets DataCryptoCapital MarketsCommoditiesCurrenciesEquitiesMonetary Policy RadarWealth ManagementMoral MoneyETF HubFund ManagementTradingKharg Island: Iran’s oil lifeline that Trump has left untouchedWhich economies will pay the biggest price for the Iran war?G7 discuss joint release of emergency oil reservesIran war will leave a complex geoeconomic legacyPimco sticks with bet on gilts despite market slumpClimateOpinionOpinion HomeColumnistsThe FT ViewThe Big ReadLexObituariesLettersTrump’s Venezuela strategy has failed in IranIran war will leave a complex geoeconomic legacyAmerica chose this war — and must now choose how to end itStagflationary forces are buildingWhy it’s time to end the grim march of the touchscreenLexWork & CareersWork & Careers HomeBusiness School RankingsBusiness EducationEurope's Start-Up HubsEntrepreneurshipRecruitmentBusiness BooksBusiness TravelWorking ItWhy it’s time to end the grim march of the touchscreenYou can turn this to your advantage if every news story has ‘tax exile’ in itBusiness school professors’ picksLife & ArtsLife & Arts HomeArtsBooksFood & DrinkFT MagazineHouse & HomeStylePuzzlesTravelFT GlobetrotterHow to wear a tie: HTSI’s definitive guideThe new food fad sweeping KoreaWine storage is emerging from the cellarFlip it and reverse it: the enduring fun of Jaeger-LeCoultre’s Reverso ‘Match of the century’ referee Lothar Schmid’s chess library up for auctionHow To Spend ItHomeWorldUSCompaniesTechMarketsClimateOpinionLexWork & CareersLife & ArtsHow To Spend ItFinancial TimesSubscribeSign InGlobal inflationFT Alphaville. 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FTAV’s further readingIntelligence; term premia; LLMs; school; URLs; PDFs; tariff refunds; X; nukebots; DOGE; Bonesmashing; dementia; Tourette’sCorporate bondsFT Alphaville. Catastrophising credit?Or time to panicFT Alphaville. FTAV’s further readingAI and policy; AI and workers; Russian imports; farmers; PE ratios; backstops; SRTs; celebrations; billionaires; Venezuela; El MenchoPrivate equityFT Alphaville. Green shoots in the private equity winter?Baby, it’s cold outsideFT Alphaville. FTAV’s further readingAI and public finance; AI grudges; gold; child soldiers influencers; inflation expectations; curling physics; women’s clothesLeveraged loansFT Alphaville. What the leveraged loan market can tell us about the software sell-offCrossing another credit market off our heat map bucket listFT Alphaville. FTAV’s further readingPrivate markets; SRTs; margin; USTs; Miran; AI & retail traders; governance; making things; military intelligence; Klæbo; ICE; EnglishPrivate creditFT Alphaville. Does Europe need more private credit?Maybe it does, maybe it doesn’t. We’re just happy to see the data.Bribery and corruptionFT Alphaville. Bored of Peace?Correlation ≠ causation. But might it be a reasonable basis for grouping a disparate bunch of sovereign nations?Federal ReserveFT Alphaville. Behold, the story of the Fed balance sheet in a single chartMore Fed history (sorry), briefly putCorporate bondsFT Alphaville. US investment grade credit markets care about the tech wreck, just not very muchLess tech to wreckUK companiesFT Alphaville. Alphaville’s annotated thoughts on the Schroders takeoverSchruveen? Because Nuders sounds too rudeAsset allocationFT Alphaville. Picking through $1tn of hedge funds with universities attachedWell endowedPrivate creditFT Alphaville. Will software eat the creditors?Equity, without the upsideJapanFT Alphaville. Japan LLC has been trading its way out of a fiscal holeLong stocks, short yen, chillaxBNP Paribas SAFT Alphaville. 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