The Japanese Bond Bombshell & SBF’s Bahamian Exit 12/20/22

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 20 December 2022

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The Bank of Japan shocked global economists with a tweak to its yield curve control policy, doubling the cap on 10-year treasury yields. Joe Kenen and Becky Quick discuss the implications for markets around the world. FTX founder Sam Bankman-Fried has agreed to extradition, so he’s headed from Bahamian prison to American courts. Former SEC lawyer and currently a financial defense attorney for Dickinson Wright Jacob Frenkel discusses the next steps and legal options for the disgraced crypto king. Netflix and chill season is underway, but Paramount Media President Chris McCarthy is confident in his own platform’s appeal to streamers. He discusses all Paramount+ offerings, but he avoids spoilers, don’t worry! Plus, 3M is making a manufacturing decision with human health in mind, and Ylan Mui reports on lawmakers pushing for a spending bill to avert a government shutdown. In this episode: Jacob Frenkel, @jacob_frenkel Ylan Mui, @ylanmui Becky Quick @BeckyQuick Joe Kernen, @JoeSquawk Cameron Costa, @CameronCostaNY

Transcript

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0:14.9	I'm C. NBC producer Cameron Costa. Today on Squawk Pod. The global economic news that's not nearly as dry as it sounds we promise. It's a decision on bonds from the Bank of Japan. Text everyone they know and tell them get off of
0:19.6	these bland morning shows and find out about the Japanese yield curve.
0:24.1	It matters.
0:25.1	SBF's next move.
0:27.7	He's leaving the Bahamas, but what will he say in American court?
0:32.0	Financial defense attorney, Jacob Frankel.
0:34.8	I think this feigning ignorance, profuse apologies is not going to work.
0:40.9	And it's Netflix and chill season, but other platforms have a fair shot at winning the streaming battles,
0:47.0	President of Paramount Media Networks, Chris McCarthy.
0:50.0	The winner of this war isn't going to be the one that spends the most money.
0:53.2	It's going to be the one who makes the biggest mass commercial hits.
0:56.1	Those stories plus 3M out with a potentially life-changing announcement.
1:03.0	They just last 10 lifetimes probably.
1:05.6	Do they last forever?
1:06.6	Because I think of things like...
1:08.0	10 lifetimes is forever as far as we know.
1:10.0	That's what I mean.
1:11.0	That's what I mean. It's Tuesday, December 20, 2022, and Squackpad begins right now.
1:17.0	Good morning everybody.
1:21.0	Welcome to Squackbox here on CMBC. We're live from the NASDAQ market site in Times Square. I'm
1:25.1	Becky Quick along with Joe Kernan Andrew is off today.
1:28.2	Let's take a look what's been happening with the US Equity.
	...

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