SQUAWK BOX, WEDNESDAY 14TH JUNE, 2023

U.S. inflation drops to its lowest level since in 2021 with investors anticipating a pause in rate hikes from the Fed. The S&P 500 and the Nasdaq respond by hitting 13-month highs and U.S. Treasuries yields also rise on investor optimism the hiking cycle may be coming to a close. In the UK, stronger-than-expected jobs data push short-term gilt yields to levels not seen since last year’s chaotic mini-budget. BoE governor Andrew Bailey admits that inflation in Britain is more stubborn than first thought. In tech news, chip maker AMD makes inroads into A.I., creating a new semi-conductor while Nvidia closes the session with a $1tn valuation for the first time ever – the seventh U.S firm to do so. We are live at Vivatech in Paris which is President Emmanuel Macron’s annual pitch to increase tech investment in France.