After a week off the desk, it's great to be back with co-founder and head of trading Piers Curran to discuss what's been happening in markets this week.

We take a deep-dive into the latest news on Russia, where ongoing fighting has resulted in the biggest weekly increase in commodity prices since the 1973 oil crisis.

The impact has been severe. The Dow Jones Russia GDR Index, which tracks London-traded Russian companies, has plunged 98% in just two weeks and overnight the Russian sovereign rating was cut to 'junk' by Moody's and Fitch. We explain what this means and how it impacts different types of fund managers.

The buzz word right now is 'stagflation'. We look at what is the probability of a recession given the surge in oil prices and the latest comments from Fed Chair Powell who said the central bank will “proceed carefully,” emphasising the “need to be nimble in responding to incoming data and the evolving outlook.”

Final word is reversed for social media app TikTok after eight US states, including California and Massachusetts, announced that they had launched a bipartisan, nationwide probe, focusing on whether the app causes physical or mental health harm to young people. Are they acting in good faith or is this purely political optics ahead of the US midterms?

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MM056: Oil will never trade below $90 again, here's why! 01:05:20 Share

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MM056: Oil will never trade below $90 again, here's why!