The EU & The Iron Law Of Oligarchy

Futures Jump After Overnight Rollercoaster Session As Oil Unexpectedly Tumbles, Yen Soars Futures erase an overnight slide, and have resumed their ascent trading near all time highs, despite a hawkish Fed statement but stronger Mag7 earnings. The hawkish Fed followed by a less hawkish press conference, plus the news that Powell is staying on seemingly removing a cut, actually have bond yields lower pre-mkt by 2-4bp as the Dollar weakens on what appears to be BOJ intervention which has sent the USDJPY plunging most since 2022. As of 8:00am ET,...

Muted Demand During India's Second-Biggest Gold-Buying Festival, After Prices Surge Gold demand during one of India's key buying festivals stayed muted on Sunday as record prices curbed jewellery purchases, ​offsetting a modest uptick in investment demand, according to Reuters.  Indians celebrated Akshaya Tritiya, the ‌second-biggest gold-buying festival after Dhanteras, when purchasing precious metals is considered auspicious. Only this time near record gold prices - the precious metal closed just over $4800 - kept buyer enthusiasm rather subdued.  "The sharp rally in prices curbed jewellery demand. In volume terms, buying was lower as consumers...

"Build Geothermal At Scale": Fervo Energy Locks In 1.7 GW Turbine Supply Deal With Turboden Fervo Energy and Turboden, part of the Mitsubishi Heavy Industries Group, announced a three-year framework agreement to supply Organic Rankine Cycle (ORC) turbines for up to 35 of Fervo’s standardized 50 MW GeoBlocks. The deal totals 1.7 gigawatts of carbon-free, dispatchable baseload power, marking a major step toward scaling next-generation geothermal across the United States. The agreement builds directly on an earlier pact covering three GeoBlocks at Fervo’s Cape Station project in Utah, where Phase I...