Biden’s plan to lower gas prices could take weeks. How to pay less now

Filling up at the pump comes with a hefty dose of sticker shock. Russia’s invasion of Ukraine and global supply concerns have sent gas prices to record highs — hitting $6 in some parts of the country. To combat the spike in energy costs, the White House said it will release 1 million barrels of … Read more

Treasury yields invert stoking recession fears

5-year and 30-year US Treasury yields inverted once again on Friday morning, stoking fears that a recession could be in the cards. The yield on the 5-year Treasury bond had jumped 11 basis points to 2.5318% at 4:30 am ET, while the rate on the 30-year Treasury bond had jumped 6 basis points to 2.5144%. … Read more

Euro zone inflation: March 2022 ECB policy

Christine Lagarde, President of the European Central Bank. Daniel Roland | dpa | Getty Images The cost of living hit another record high in the euro zone last month, raising further questions about how the European Central Bank can stabilize such rapidly rising consumer prices. Headline inflation came in at 7.5% for March on an … Read more

Biden says US will release 1 million barrels of oil per day to reduce gas prices

The US will be releasing one million barrels of oil a day from the country’s Strategic Petroleum Reserve for the next six months, in an effort to mitigate high gas prices, President Biden announced Thursday. The move comes as Americans face gas prices north of $5 in some parts of the country, due to factors … Read more

2-year Treasury yield tops 10-year rate, a ‘yield curve’ inversion that could signal a recession

Traders work on the floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, US, March 7, 2022. andrew kelly | Reuters The 2-year and 10-year Treasury yields inverted for the first time since 2019 on Thursday, sending a possible warning signal that a recession could be on the horizon. The bond … Read more

Biden expected to announce record release from US strategic oil reserves – live | news

12.20pm EDT 12:20 It also emerged during the Nancy Pelosi press conference that she is planning a House hearing on the ethics of the US supreme court, in the wake of the insurrection scandal involving Justice Clarence Thomas‘s wife Ginni. Thomas has been silent amid calls for his resignation over his wife’s supportive texts to … Read more

Tumultuous month for markets with Russia-Ukraine war

LONDON — European stocks were mixed on the last trading day of March, a month marked by global geopolitical and economic uncertainty after Russia’s invasion of Ukraine. The pan-European Stoxx 600 hovered around the flatline in early trade, but was on course to eke out a monthly gain for March. Media stocks added 0.5% while … Read more

Russia invasion of Ukraine is increasing risk of a recession in Germany, think tank says

Berlin’s Brandenburg Gate on the occasion of the Earth Hour, on March 26, 2022. Tobias Schwarz | dpa | Getty Images Germany’s heavy reliance on Russian energy could tip its economy into recession, an independent economic think tank warned on Wednesday. There are rapidly rising concerns over what Russia’s unprovoked invasion of Ukraine will mean … Read more

10-year Treasury yield ticks higher as investors keep watch over bond spreads

US Treasury yields were mostly higher on Wednesday morning, with investors keeping an eye on the spreads between bonds, after the 5-year and 30-year rates flipped at the start of the week. The yield on the 5-year Treasury moved up less than a basis points to 2.493% at 7:00 am ET, while the rate on … Read more