SQUAWK BOX, WEDNESDAY 21ST SEPTEMBER, 2022

09/21/22 • 30 min

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U.S. markets continue their sell-off with 2- and 10-year Treasury yields reaching new highs ahead of another large Fed rate hike. Hedge fund manager Leon Cooperman slams U.S. Fed chair Jerome Powell for “irresponsible fiscal monetary policy”. JP Morgan CEO Jamie Dimon gives a stormy economic forecast ahead of Congress appearances by bosses of the seven largest U.S. banks. Russian President Vladimir Putin is expected to give his first national address since the beginning of the Ukraine invasion. The Kremlin is likely to ramp up military operations in the country and to fast-track annexation referenda in four occupied territories. And in energy news, Berlin is set to complete the final stage of its takeover of troubled utility Uniper, also providing a further €8bn in support measures.

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SQUAWK BOX, TUESDAY 20TH SEPTEMBER, 2022

U.S. markets are braced for the Fed’s policy meeting starting today, breaking a two-day losing streak and pushing the 10-year Treasury yield to an 11-year high. The PBC keeps rates steady with the BoJ expected to do the same despite inflation reaching an 8-year high. Germany is expected to ink a gas deal with Qatar as it pivots away from Russian energy. However Bilfinger CEO Thomas Schulz tells this channel that Europe has the requisite energy infrastructure to weather the current power crisis. In autos news, Ford shares reverse in extended trade after supply chain issues weigh on costs.

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SQUAWK BOX, THURSDAY 22ND SEPTEMBER, 2022

The U.S. Federal Reserve increases interest rates by 75bps for the third consecutive month. The rate is now at its highest level since early 2008. Chairman Jerome Powell warns that the there will be more rate moves to come to tackle inflation. U.S. equities are down and the 2-year Treasury yield has hit 4 per cent for the first time in 15 years. The BoJ, however, holds rates at record low levels. At the UN, U.S. President Joe Biden leads global condemnation of Russia’s partial military mobilisation and threats of nuclear strikes.

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