25 July 2025: 16:30 BST
The Powell-Trump feud is getting ever more intense, as Trump accuses the Fed Chair of having added hundreds of millions more to the cost of Federal Reserve renovations… before Powell points out that’s from the construction of a separate building completed 5 years ago. We have to laugh, else we might just cry. The July FOMC is next week and there’s practically zero chance of a rate cut – maybe some with an eye on the top job will vote for a cut to curry favour. In the scheme of US spending, the Federal Reserve renovations are small fry, as the US Treasury has to roll over $7 trillion (!!) of debt this year alone.
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.
