SQUAWK BOX, FRIDAY 16TH JULY, 2021

SQUAWK BOX, FRIDAY 16TH JULY, 2021

U.S. Treasury Secretary Janet Yellen tells CNBC that price pressures are likely to remain in the short term, sending Treasury yields lower and the S&P 500 into the red. Morgan Stanley beats Q2 earnings forecasts on strong results in its investment bank arm, capping off a good week for U.S. banks. There are more than 50 people dead and at least a thousand missing as devastating flash floods hit Germany’s North Rhine-Westphalia state and the Benelux region. This, as German Chancellor Angela Merkel meets with U.S. President Joe Biden to agree a united front against alleged Russian aggression. The pair, however, admitted to differences on the construction of the Nord Stream 2 pipeline in the Baltic Sea.

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