JP Morgan Chase strategist states that the stock market implies an 85% probability of a recession in the USA; US mortgage rates reach 5.78%, the highest level since 2008; the Bank of England raises interest rates for the fifth consecutive time, hinting at possibly taking stronger actions. In terms of the energy market dynamics, natural gas prices in Europe soar, with Russia cutting supply leading to an escalation of the energy crisis; Russian Deputy Prime Minister Novak says there is no need to cut oil production in response to the EU's sanctions.