07 April 2025: 09:30 BST
It is Armageddon day! Global collapse and the world are facing an implosion in equity markets, commodities, hedge funds margin calls, name anything if values from houses to currency in your pocket and everybody is wondering what happened to the value of all those things. Even gold got hit, down 0.8%. Copper, the bell weather of the economy got spanked hard, down 5% today. Trump tariffs triggered a global equity market collapse from Japan to Canada and everywhere between. Trillions of dollars evaporated in the rout. We are not to side with Bill Ackman, a controversial hedge fund manager and a fervent Trump anything lover. But even he called for a 90-day tariff pause fearing ‘a nuclear economic winter.’ We think we’re still in the middle of the mushroom and pity those facing margin calls. According to sources across FX, Equity and Rates, “liquidity is poor leading to instances of price over shoots.” Investment grade credit remains fairly orderly but high-yield is becoming extremely volatile.
In ‘The Officials’, Onyx Capital Advisory publishes outright values, spreads, cracks and boxes for the main energy commodities traded in the marketplace. The published values are determined independently and on a fair market basis by our team of dedicated professionals.
We invite you to read our reports, which will initially be published twice a day, reflecting closing values at 16:30 Singapore time (SGT) and at 16:30 London time (GMT/BST).
For any comments, please reach out to us through the emails provided in the signed documents.
