SQUAWK BOX, MONDAY 25TH SEPTEMBER, 2023

09/25/23 • 28 min

On Wall Street the S&P 500 and the Nasdaq suffer their worst week since March as a trio of Fed officials doubled down on ‘higher for longer’ rate hike cycle signals. Chinese property giant Evergrande sees shares plunge after it announced it was unable to issue new debt due to an investigation into one of its subsidiaries. There has been a breakthrough in Hollywood between the writers’ union and the major studios but in Detroit strikes have expanded with President Joe Biden set to join the picket lines tomorrow. European Trade Commissioner Valdis Dombrovskis has said that China could do more to improve Europe’s perception of risk from the country but stresses that Brussels does not seek to decouple from Beijing. And in Spain, 40,000 people protest against plans by Prime Minister Pedro Sanchez to grant Catalan separatists amnesty.

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See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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SQUAWK BOX, FRIDAY 22ND SEPTEMBER, 2023

Wall Street is having its worst week since March posting a third consecutive day in the red with the 10-year Treasury yield stalled at levels not seen since 2007. The BoJ maintains its ultra-low interest rate causing the yen to fall. This as inflation data comes in above target for the 17th month in a row. Sterling also plunges to a six-month low after the Bank of England governor Andrew Bailey casts the tie-breaking vote to hold rates steady following 14 consecutive increases. In autos news, talks remain stalled between Detroit’s Big Three and UAW bosses ahead of a deadline later today. More sporadic strikes have been promised unless an agreement is found. And News Corp and Fox Corp chairman Rupert Murdoch steps down from the helm to pass the reins on to son Lachlan. He will remain as chairman emeritus of the media empire.

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SQUAWK BOX, TUESDAY 26TH SEPTEMBER, 2023

Wall Street breaks a four-day losing streak, this despite the U.S. Treasury yield breaching a high from 2007. We hear from Chicago Fed President Austan Goolsbee who says the central bank is on the right track to reining in inflation. Ratings agency Moody’s says that another U.S. government shutdown could risk its AAA sovereign rating as federal funding discussions continue to drag on. Chinese property giant Evergrande sees losses extend for a second day after one unit misses an on-shore bond interest payment. Brussels and Beijing attempt to diffuse trade tensions. EU Trade Commissioner Valdis Dombrovskis urges the two not to drift apart. In autos news, we hear from Nissan CEO Makoto Uchida who pledges his company will only sell EVs by 2030 and hails its foothold in the Chinese market.

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