07 April 2025: 16:30 BST
‘If we fight, I might lose a leg but that’s ok because you’ll lose an arm and a leg’. This seems to sum up Trump’s approach to the world economy. But really, everyone’s losing their heads. Markets have been in chaos today, look no further than credit markets, where 10-year treasury yields traded in a wider range than in the entirety of March. Traders are battling against recessionary fears and tariff reproachment, headline by headline. But after all is said and done, China are unlikely to yield. According to our market sources, they expect no reproachment, China have had enough and an additional increase of 50% makes no difference this time. We can’t help but agree. China’s taken steady steps to depend less on exports to the US… But for the Donald, obviously, it’s worth it as your opponent loses more, who cares if your own economy is pounded and pummelled – they lose! Actually, we all lose!
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).
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