SQUAWK BOX, WEDNESDAY 16TH JUNE, 2021
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The EU has excluded 10 banking giants from participating in its Covid recovery fund bond sale. Big names such as JP Morgan, Natwest and Bank of America have reportedly been blocked over previous involvement in market-rigging scandals. Meanwhile, Brussels and Washington end their 17-year feud over aircraft subsidies. European Commission President Ursula Von Der Leyen has welcomed the ‘new chapter’ but warned that work remained to be done. In Washington, the Federal Reserve is not expected to make any sudden rate moves during its two-day policy meeting, sending markets lower as investors hunt for signs of a rate hike timeline. Presidents Biden and Putin are to meet in Geneva today. The Kremlin warns that common ground on a host of issues may be sparse. And CNBC hosts its inaugural Evolve Global Summit, bringing together leaders and innovators for a new era of business.
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