MM060: Biden's big oil play & recession warnings

In this week's episode, Piers and I catch up on the announcement this week that the US is to release roughly a million barrels of oil a day from its reserves for six months beginning in May, a historic drawdown to combat rising inflation. We discuss Biden's strategy and ask the question, will it work?This week the U.S. Treasury yield curve inverted for the first time since 2019. The U.S. curve has inverted before each recession since 1955, with a recession following between six and 24 months, but is this a surprise, and is this time different?We also look at why the Russian Ruble has staged a steady comeback despite the ongoing conflict, the bounce in cryptocurrencies, and why UK house prices keep punching higher.Sign up for our daily Market Maker newsletter https://bit.ly/3wZQlR9AmplifyME YouTube channel https://bit.ly/3DygW99 Hosted on Acast. See acast.com/privacy for more information.