Boris Johnson Resigns; Luxury Art Market Soars 7/7/22
Squawk Pod7 Jul 2022

Boris Johnson Resigns; Luxury Art Market Soars 7/7/22

UK Prime Minister Boris Johnson is resigning, following a torrent of resignations from ministers in his government in the past 24 hours. CNBC Europe’s Steve Sedgwick reports on the scandals that have caught up with Johnson and the quick sea changes of UK conservative politics. As Wall Street parses through the market’s recession signals and portfolio managers brace for a deeper downturn, the luxury art market soars. The first half of 2022 broke records for the industry, marking the most ever paid for an American artist at auction ($195 million), and the most ever paid for a single collection (a cool $922 million). CEO of Masterworks Scott Lynn offers investors fractional ownership–equity shares–of blue chip works by the likes of Basquiat and Banksy, and he says, it’s an alternative asset worth the hedge. Plus, the market is working its way through the Federal Reserve’s reasoning behind its 75 basis point rate hike decision last month.

In this episode:

Scott Lynn, @Scottlynn

Steve Sedgwick @Steve_Sedgwick

Joe Kernen, @JoeSquawk

Melissa Lee @MelissaLeeCNBC

Katie Kramer, @Kramer_Katie


Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Episoder(1860)

Pains in the Post; Covid Compounding Inequality; Hope for American Politics

Pains in the Post; Covid Compounding Inequality; Hope for American Politics

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17 Aug 202031min

‘Epic’ Battle, NJ’s Economic Comeback & Amazon Third-Party Ruling

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14 Aug 202034min

“Content Is King” with Movie Producer Brian Grazer; Back-to-School Uncertainties

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13 Aug 202030min

The Biden-Harris Ticket & Two Oval Offices

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12 Aug 202028min

Russia’s Covid Vaccine; IBM’s Ginni Rometty & New York Jobs CEO Council

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11 Aug 202033min

Warren Buffett’s Big Buyback; Back to School Season; President Trump’s Executive Orders, Explained

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10 Aug 202029min

Pandemic Jobs Report; Sen. Amy Klobuchar; Eyeing $43B from Bezos

Pandemic Jobs Report; Sen. Amy Klobuchar; Eyeing $43B from Bezos

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7 Aug 202028min

The Markets, the Middle Class, & Hopes for Stimulus; Quicken Loans Parent IPO

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6 Aug 202038min

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