Robert Armstrong on coining the Taco trade

Robert Armstrong on coining the Taco trade

Author: Financial Times April 3, 2026 Duration: 12:30

President Donald Trump fired US attorney-general Pam Bondi, and private credit investors are requesting their money back from Blue Owl Capital at an alarming rate. Plus, the FT’s Robert Armstrong continues our series on Trump’s tariffs with analysis of the Taco trade theory a year later. 


Mentioned in this podcast:

Donald Trump fires US attorney-general Pam Bondi

Blue Owl struck by $5.4bn of redemption requests

Taco trade theory and the US market’s surprise comeback

Listen to the FT News Briefing’s tariffs series here


Note: The FT does not use generative AI to voice its podcasts 


Today’s FT News Briefing was hosted and edited by Marc Filippino, and produced by Saffeya Ahmed and Sonja Hutson. Our show was mixed by Sam Giovinco. Additional help from Gavin Kallmann and Michael Lello. Our executive producer is Topher Forhecz. Cheryl Brumley is the FT’s Global Head of Audio. The show’s theme music is by Metaphor Music.


Read a transcript of this episode on FT.com


Hosted on Acast. See acast.com/privacy for more information.


Start your morning with the essential context for the day ahead. FT News Briefing, directly from the Financial Times newsroom, cuts through the noise to deliver a concise, authoritative overview of the global business and political developments that truly matter. Each episode is a focused, ten-minute digest designed for the time-pressed, offering clarity on complex market movements, geopolitical shifts, and economic policy decisions. You’ll hear the FT’s expert analysis woven into the reporting, providing not just the headlines but the underlying forces at play. This daily podcast serves as an efficient primer, whether you’re commuting or preparing for your first meeting, ensuring you’re informed on the stories that will define conversations in boardrooms and beyond. Released every weekday morning, it’s a reliable filter for the overwhelming flow of information, built on the FT’s legacy of rigorous journalism. Tune in to transform the way you catch up on world events, turning a few minutes into a strategic advantage for your day.
Author: Language: English Episodes: 100

FT News Briefing
Podcast Episodes
Can bankers be fired for demanding sleep? [not-audio_url] [/not-audio_url]

Duration: 11:35
JPMorgan Chase is in talks to provide banking services to US President Donald Trump’s Board of Peace, and investors have warned that loosening the UK’s borrowing limits to fund more spending on defence would risk a bond…
Warner Bros tells Paramount to make an offer it can’t refuse [not-audio_url] [/not-audio_url]

Duration: 11:39
Meta has agreed to spend billions of dollars on millions of Nvidia’s chips, and Warner Bros Discovery has reopened sale talks with Paramount. Plus, Christine Lagarde has decided to leave her post as president of the Euro…
Orbán draws US support ahead of Hungary’s election [not-audio_url] [/not-audio_url]

Duration: 13:17
Hungary’s Prime Minister Viktor Orbán lashed out at Ukraine at a meeting with US secretary of state Marco Rubio in Budapest. Fund managers are betting against the US dollar. Shareholders push oil companies to accelerate…
What’s with Wall Street’s weird selloffs? [not-audio_url] [/not-audio_url]

Duration: 11:48
Cross-border EU banking deals reached their highest level since the 2008 financial crisis, and regulation reversals are hitting global electric-vehicle makers. Plus, soaring gold prices are affecting insurance coverage f…
Introducing 'The Kink Machine: The Hidden Business of Pleasure' [not-audio_url] [/not-audio_url]

Duration: 31:21
It’s the most watched business in the world. And the least understood. Streamed by millions every day, porn is everywhere. It shapes our culture, our relationships and even technology. Yet, nobody seems to know who reall…
Private equity’s workaround to buy law firms [not-audio_url] [/not-audio_url]

Duration: 12:10
The Trump administration plans to roll back some tariffs, Schroders agrees to a US takeover, and Americans paid 90 per cent of the cost of US President Trump’s tariffs last year. Plus, Goldman Sachs’ top lawyer will depa…
A wacky US jobs report [not-audio_url] [/not-audio_url]

Duration: 11:14
The US economy added 130,000 jobs in January, beating market expectations, and documents appear to contradict testimony Jes Staley gave about his involvement with Jeffrey Epstein. Plus, Bangladesh is holding its first el…
Should BP get more credit for its turnaround effort? [not-audio_url] [/not-audio_url]

Duration: 10:58
US commerce secretary Howard Lutnick said he visited Jeffrey Epstein’s island with his family in late 2012, Cuba is struggling under the US fuel embargo, and Ukrainian President Volodymyr Zelenskyy is planning for electi…
Novo Nordisk hits back at copycat drugs [not-audio_url] [/not-audio_url]

Duration: 11:40
Gilts rebounded from earlier losses on Monday afternoon, and Novo Nordisk is suing US telehealth company Hims & Hers over ‘knock-off’ versions of its weight-loss drugs. Plus, France’s central bank chief is stepping down…
Pressure mounts on Starmer even as top aide resigns [not-audio_url] [/not-audio_url]

Duration: 12:32
UK Prime Minister Sir Keir Starmer’s chief of staff resigned amid controversy over the Mandelson scandal, and Japan’s conservative governing party have won a landslide victory in snap elections. Plus, top academics have…