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tv   Asia Edge  Bloomberg  June 7, 2015 11:00pm-12:01am EDT

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>> wrong numbers. htc shares plunged to a 10-year low. sales forecast blaming weak demand in china. crying out for change. deutsche bank installing new leadership in a bid to revive its forces. class wwarar. we meet the boss of and all business airline promising to shape a corporate -- shake up corporate travel in this monday edition of "asia edge." shery: keeping an eye on the markets. asian stocks declining today holding added two month low. the nikkei reversed earlier gains and went on a lunch break .2% lower. japan's current account balance for april came in lower than estimates. although its final first-quarter gdp data came in lower than expected. the han seng index down .1%,
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falling for three consecutive days. the lowest level in two months. we are seeing this downbeat sentiment. s&p futures trading lower. of course, a different story in shanghai. still managing to stay in positive territory. although slightly unchanged from friday, but remember, on friday, the shanghai composite closed above 5000 for the first time since 2008. it is still trading above that 5000 level. back to you. rishaad: we have got more evidence of that 7% growth target in china. it is under threat once more. we have got exports and import numbers coming through. down in may, both of them. weaker internal and struggle demand responsible. steve is looking at these numbers. steve: widely in line with
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expectations. exports performing a little bit better but they are down. exports down 2.5% in may. they have fallen every month this year except for february which has extreme seasonal distortion. they were down 6.4% in april. 15% down in march. the estimate was for .4% down. we do not expect the chinese at all to race to the bottom with his currency divide to boost exports. it seems like it is doing ok given the considerations here. imports is a bigger concern for the chinese, considering yes there is commodity price deflation there. at the same time, internal domestic demand is weak. down 17.6 percent. the estimate was for a fall of imports of 10%. this is on top of 16.2% fall in april. imports have fallen now for seven straight months. five straight months of
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double-digit declines for imports. rishaad: tell me something. does this mean they are going to have to hasten -- interest rate cuts? ease more aggressively? stephen: this evidence suggests what we already know. yes, there is a comparative high base from last year but we are at a weak growth environment. and the policy has been easing. those in other words they are using. ubs says, she expects authorities to maintain an easing stance with monetary easing at the forefront of policy effort. i want to add one more number. we did not talk about the surplus. the surplus is $59.1 billion. that is on top of $60 billion in surplus in february. $60 billion in january. rishaad: of course, we can -- we
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have been talking about china with our guests all morning. daniel march says beijing's stimulus steps are only beginning to take affect. daniel: a lot of people were skeptical that stimulus measures have not been having much of an effect, but it was only in april when they cut the authorities -- change their stance from being concerned about credit growth to being concerned about demand. with that cut interbank rates fell. the government is rolling out stimulus projects to ensure that local governments to not have funding problems. they really are starting to worry about demand and hopefully that should stabilize things over the coming months. what is not is a repeat of 2008 when they already ramped up lending growth across the whole economy. we are not going to see anything like that. rishaad: shen jianguang: saying
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that china's push to ease the flow of credit will boost businesses. jianguang: i think, first, the monetary injection again. credit. so we are seeing that a lot of credit now flowing to again to the local government financial vehicles. they only change the fiscal rules to make it easy for local entities to get money again from the banks to start infrastructure investment. i think that is the number one strategy. rishaad: and that was the word on china from asia. >> over to japan, its economy showing signs of revival with data showing the strong us growth since 2013. revise figures of 3.9% for the year while above estimates. for more, we are joined by our japan economy editor. this seems like pretty good news. is it? aaron: well, yes it is.
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growth was the strongest in the year. and the government revised up its estimate for capital expenditure by quite a large margin. this is a good -- this is good news in the sense that private sector is starting to kick in and help the economy. but the government also revised up its estimate for inventories. the buildup added to growth. it was the single biggest contributor to growth in the period. so that is not a good sign. the reason is that this inventory is with the company the companies are going to have to work hard to reduce them in the in coming months, and that will weigh on industrial production. >> is the domestic demand there to deplete inventories? arran: any sort of demand.
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the company's need to get the stock out of there out of their warehouses and whatnot. on capital expenditure, this is a good sign. it is not clear how sustainable it is. the prime minister abe he certainly wants capital expenditure to rise. this is part of his whole abenomics growth strategy. last week him he was speaking in japan's biggest business lobby and he was calling on companies to step up investments, adopt new business models, methodologies, what not to increase productivity. and he laid out his, some of the policies he has pursued to try to spur growth his growth reform agenda. now, from the company's perspective, fine. they are looking at what he is actually done -- not a lot. they are also looking at the macro picture. the economy with the biggest debt in the world.
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a shrieking population. so, are they going to be willing to commit funds to this economy? well, we will have to see. >> thank you so much for joining us out of tokyo. better than expected first-quarter finalized gdp. here is shery. shery: japan, of course, is on a lunch break but let me take you to the biggest movers this morning because look at this -- up 4.8% after its biggest two-day gains since october, 2008. after the prime minister -- said it's the site of the 2016 g-7 summmit. jin up 6.7%, after sales rose 23% in may year on year. we are also looking at fast retailing, up 1.1%. they are said to be eyeing to open 200 more stores in the
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philippines. there are some chinese movers. -- food down 4.5%. macau sales worse than expected. kinyi solar up .27%. hsbc up .14%. phillips capital is said to be interested in the bank's turkish unit. today it is all about crrc. it debuted in shanghai and hong kong. it is the world's second-largest industrial company after g.e. with -- $117 billion. and that comes on the merger. now they are trading under csr's old ticker in shanghai and hong kong. rishaad: let's get more on crrc. in beijing or tell us more about
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the rationale and the reasons behind this merger. clement: china wants to make its rail technology exports more competitive. what we saw before with csr and cnr outbidding itself downwards. there are a lot of margin pressures. china wants to erase the profitability of its business -- so it's aiming to do that with this merger p is also trying to change the way the rail business is being conducted by offering a package deal. every time chinese premier goes out on a diplomatic tribute he would come back with a string of deals. rail will be among them. what is happening is that while china is offering a deal fro construction to equipmentm and coming back to china then disturbing the deal among its companies. that is how they are making a competitive, which is why it is seeing japan starting to respond
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with their own funding, their own response to a.i.b. to fund all the superstructure projects. rishaad: how is china using cranes and railroads more specifically in its diplomatic push and its push for influence? clement: right. one way of doing it is to go and projected tech knowledge. very keen to get his technology out to developing countries and now increasingly developed countries. it is known it is looking to bid probably of the california high-speed rail. but china sees a projection of its high technology industry just like a production -- a projection of how great it is with its mines. it has, with a lot of funding mechanisms to fund the old silk road trade route.
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it is important for the xi jinping administration. rishaad: thanks. in beijing. >> coming up the g-7 turns the big diplomatic guns on greece ahead of the next round of talks with creditors. coming up next, trade figures out of china. paints a worrying picture for exports. some insights on what it means for the economy and the markets. you are watching "asia edge." ♪
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rishaad: a check of the stories making headlines. susan: the government announced tougher measure to stem the spread of the dizzy. 87 people and south korea have been infected with middle east respiratory syndrome since last month in the largest outbreak outside the middle east. 1800 schools of closed and 2000
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people are in isolation now. south korea's acting prime minister urged people not to panic. rishaad: 18 people are now confirmed dead after an earthquake hit the countries highest peak on friday. mt. kinabalu in borneo. 8 of the victims were from singapore. including six primary schoolchildren. 130 other trekkers were trapped on the mountain. many who had to make their own way down criticized rescue efforts. susan: turkish voters have -- rejected the quest for power with the ak party losing its majority. the htcd winning seats for the first time. president erdogan had wanted constitutional change to extend his term. the turkish lira fell on the prospect of a coalition. rishaad: getting ready for this
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chinese trade figures. the 30 straight month -- the third straight month of declines. stefan, thanks for joining us. well, what was your take on them? the import side showing domestic weakness. the export side showing perhaps global weakness. stefan: that's right. we have a fairly decent trade balance that comes off the back of that. they're more important thing is that martin reaction has been -- that market reaction has been more muted. ion thn the case of australia, and the pass, the big story was the rising demand from china for commodity exports from australia which were coming down a fair bit. the china story is important but broadly speaking especially for investors who should be looking elsewhere, more weakness on this trillion dollar. susan: we are seeing thatn p0-- we are seeing that now. rishaad: down 1%.
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stefan: the longer story is economic transformation. they are not reacting to this. we are looking for capital market reform. ideas like hong kong-shenzhen connect will become important. susan: import numbers reflect a mastic weakness. to what weakness, -- domestic weakness but not paring what we are seeing with equity markets. we have mostly retail investors putting their own skin in the game. is there a disconnect? stefan: it is a more come located issue. car sales. in china, are doing is to me well, especially if you look at the three german luxury carmakers. those numbers speak for themselves. yes, i agree that on an aggregate level if you look at the imports, it is worthwhile to question, how strong is the chinese consumer? but if you go down a few levels below in terms of company
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statistics, bmw, audi or doing very well in china. susan: not doing so well, these g-7 greece talks. merkel. but there is the united front apparently against greece is greece going to rise to the occasion? stefan: we have the bungling of the june payments. we are no longer focus on the five, the 12 the 19. everything is push the end of june. nothing material has changed. they had more time. we have this -- they bought more time. this next step could be capital controls. so, something we saw in cyprus when they had they many crisis. -- the mini crisis. so making deposits are not to put it mildly are evaporating. so, the the money is going down in terms of the bank system deposits. the next step would have to be to put a stop to that. that will raise the temperature in greece to let's have ad deal.
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rishaad: five minutes to midnight according to one commentator. stefan: that might be what is necessary to get the kind of political capital in greece domestically for there to be enough consensus to get that kind of agreement on. you might actually have to go five minutes to midnight to pull this off. susan: it just seems this greek drama is not ending. the thing is, even if they get a deal, greece has run out of mone y. they might be able to pay off the debt it is owed in terms of deadlines, but moving forward, it does not have the money to do the business of greece. stefan: we need to see an agreement where they will have the kinds of reforms that the government committed to. so, things like pensions, privatization, investment, all those kind of things. once you get written agreement with those things in place, you can think about a greek economy that can grow again. susan: question is, is austerity
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the answer and/or going it alone? who knows? rishaad: stefan, joining us for the group discussion 20 minutes from now. susan: under pressure, g-7 push for a solution on greece. ♪
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rishaad: some of the stories
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making headlines. india has more room to cut interest rates according to ubs they say there is a lot more room they have. the central bank could resort to the deepest cuts in seven years despite concerns over inflation. the governor there has linked future decisions to how weak the monsoon season is. the food policies will limit any rise in prices. he's reduced rates three times this year. ubs says it may slash another 75 basis points by march next year. a chinese gaming executive won lunch with warren buffett after bidding $2 million. he beat out the competition at the 16th annual charity auction. he gets to pick the oracle of omaha's brain over lunch in new york.
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stocks slump for a third day, as analysts speculate whether the country will retain the right to the 2026 world cup. swiss authorities are investigating whether the bidding process for the 2018 and the 2022 world cups were corrup. t. qatar spending billions of dollars in infrastructure. susan: greece faces a week of urgent diplomacy to avoid a default. talks resumes and brussel after prime minister tsipras faced a united front demand and structural reforms. we have been following this and greece is high on the g-7 agenda. >> the cat and mouse game continues. the world leaders putting pressure on both sides, saying we have reached a deal. so that we can avoid the bigger
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risk of wider economic reverberation. of course, the summit, which was hosted by angela merkel, she also mentioned the opinion in the room was unanimous. a whole lot of work needs to be done him a and we are not quite there yet. this is days after alexis tsipras spoke to lawmakers in parliament talking about this huge backward movement they experienced in talks last week but still, they say a deal is closer than ever. he mentioned. but he said this offer, he hopes this offer is "a bad negotiating trick." again we talked about the european commission president. he is losing patience on this deal. very blunt comments coming from him over the weekend. >> i do not have a personal problem with alexis tsipras. quite the contrary. he is my friend. he has to accept the minimum rules. yvonne: juncker said greece move
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reset -- this reset of the talks and both sides cannot agree with proposal to put on the table. greek officials not identifying who they are but they say are that they cannot accept this offer from creditors. susan: not only which but when is the question. thank you so much for that. rishaad: and we are looking forward to the business in tokyo, a decline in the morning is what we witness. despite an uptick early on. the nikkei down by .2%. better-than-expected gdp. 3.9% on that glow wearing off. ♪
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susan: chinese exports fell for a third month in may, underscoring a sluggish economy at home. shipments fell 2.8 on the year earlier, while imports were down 18%. the slowdown coincides with the slump in investment growth putting beijing's growth target for this year at risk. japan's economy showing signs of revival. the latest data revealing the strongest growth in the year. revised figures put gdp up 3.9%,
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well above analysts estimates. now, the results have been driven by stronger pickups in business investment and also inventory buildup. talks between the greek government and its creditors are due to resume in brussels monday. the diplomatic pressures piling up on greece after g-7 leaders present a united front and germany calling for an end to the deadlock. athens and its creditors are trying to find a compromise to unlock $8 billion in aid. let's get the latest in the markets. shery: asian stocks are holding it a two month low. the nikkei reversing earlier gains. on change coming back from that lunch break. we have japan's current account balance for april coming in lower than estimates. his final first-quarter gdp data came in stronger than expected. kospi down .1%.
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the hang seng index reversing earlier -- gaining .1%. we are seeing this rally in chinese stocks as well. the shanghai composite rising .9%. i want to take you through the shanghai composite because it finished above 5000 for the first time since 2008 last week. currently still trading above that by 1000 level. we had china's exports declining for a third straight month. for the seventh month we had the traded out -- trade data out this morning at i want to go through the indonesia rupia, trading at a 17 year low. falling. down for four days. foreign funds pulling money. growing speculation that rising prices makes interest rates cuts
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less likely. the rupiah now the worst-performing currency in the whole of asia. let me take you through some movers in china. we are seeing high tong securities down 1.8%. expected to sell euro -denominated bonds. kinya solar is launching their summer -- solar farm building and china. htc down 10% after they cut their sales guidance 35% to write down assets. susan: well let's get more on that story. what is going on at htc? tim culpan joining us from taipei. this cut seems sudden. what is going on at htc? tim: you're right, it was laid on friday. in some respects, people can say they expected it. -- i t was late on friday. things have not been good at htc
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for a while. shares have been falling, and in fact, many small investors are faced -- the chairwoman last tuesday at their annual general meeting and were very unhappy or she apologized at the time and said she is looking to turn things around. writing off 2.9 billion taiwan dollars of assets is not the best way to turn things around, but it may be the first step to doing so. let's put that in context. 2.9 billion taiwan dollars is double the amount of net income they produced all of last year and the year before that. they had a loss. it is going to be next to impossible amid declining sales this year for them to post net income. many analysts with reports coming out in the last few days are also saying that a prophet next year is also looking very unlikely. and the shares down basically the maximum. they probably will fall in the next few days. the key hwereere is that they are
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getting squeezed from all sides. at the top end, which they have been trying to hang on to htc said the high-end area has been hurting them in the second quarter. they had to cut their sales by 35%, their sales estimate by 35% because of the top end. at the other end, china is the other area that a lot of people have been turning to to get some growth out of a slowing smartphone market. they said things are not going as well as they hoped in china as well. two major points they have outlined of why the second quarter is not as good as they hoped. susan: also the company would has announced it will write off assets worth 2.9 billion new taiwanese dollars. is this a one-off? or is this part of a deeper problem? tim: they are calling it a one-off but they have not told
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us what that is about. they said it was for prepaid expenses and impaired assets. we have been approaching them today to find out more information, but that has not been forthcoming at this stage. if this is a one-off, that is great. bad news in the short-term, but many companies do that. and hopefully turns fing -- turn things around. they have dominate -- teyhey have done m&a over the years. is there right off their? we don't know. if it is inventory, marketing expenses -- they do manufacturing their own phones. we do not know what assets they have to write off in future. that uncertainty is also a concern for the company and to investors. susan: tim culpan out of taipei. rishaad: one of europe's biggest
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bank has put a new man in charge. deutsche bank's ceo's three year reign if over with-- is over with. >> most recently was with tim a asek. he led ubs to the depths of the financial crisis as ubs faced its worst moments, it's record costs, it's record losses. deutsche bank faces plenty of challenges. mounting legal costs, increasing regulatory risk. rishaad: john cryan. zeb: he is well-known within the banking world and very well respected. investors looking for leadership at deutsche bank, because the two current co-coe'eo's have not been able to meet profitability targets. the stock has slumped during their tenure. and investors seeking
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credibility within management. now, we must note that one ceo is a deutsche bank executive and has been there for many years. he led the fixed income business. rishaad: stellar work as far as that went. zeb: more than 80% of the bank's profits coming from that division. however, in his current new environment, investors simply not pleased with the pace of progress. in april, they released a new strategic plant. mr. cryan is on the supervisory board of deutsche bank. investors expect them to stick with that strategy albeit with minor adjustments. rishaad: what is the reaction like? we will get investor -- whween shares start trading. shares have not done well in the last couple years. zeb: deutsche bank shares of underperformed all of its peers. if you look at the three performance, the stock is up 1.6%.
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htssbc is up 16%. and socgen is up 140%. the stock is under perform. rishaad: three years, up 1.4%. ok. going to check on the other corporate stories making headlines. david: shares of -- have fallen after a reported 25% plunge in full year profit. jewelry sales fell 15% in china and 33% combined in hong kong and macau and shoppers cut back on luxury spending. they plan to expand in china by adding 160 more outfits. apple is expected to review details of its new streaming service on monday. it has been pushing with in-time
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to make an announcement at his annual conference in san francisco. at this event, the software partners will gather to learn about the future of apple's operating systems and how to build new apps for the apple watch. google has pledged to release monthly updates of self- driving cars, following a sexy -- the second accident in less than a week. there have been 13 accidents since the driverless car project started six years ago. google says none have been the fault of the vehicle itself. those are the top corporate headlines this hour. susan: flying business class is more often than not a priceey affair, but there is one french airline that is aiming to change all that with an all- business-class flight. matt miller spoke to the founder of la compagane to find out more. >> when you have been lucky
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enough to try business-class you never want to go back to coach. the only area was the price. my idea, ymy concept was very simple, was to make it easy, let's make it simple. we are going to provide to business-class travelers the same kind of advantage the traditional look -- to coach class travelers 25 years ago because first class was the pioneer tino tha-- into that kind of thing. the airline industry was an old lady in need of a much better fresh look. that is what we're trying to do. matt: you got two routes, and it is all business-class. frantz: we are specialists. we do -- we only operate full business-class flights. you are in that airplane right now equipped with 74 beds. and that is what we do. we do not have coach class. we do not have economy.
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we only do business class. matt: because you are focused on this, you can offer it at a better price? frantz: that is the second part of the fact that we are totally unique in the market. we actually -- seelling our business-class product cheaper than the other allies. -- the other airlines. frantz: you are seeing one tub of customer. we keep costs as low as possible. we make it valuable as soon as it is possible as well. we subcontract all maintenance to some of the largest aircraft maintenance in the world. matt: he started out with paris. you got up to full capacity with that route. now you have done london. and your building that up. do you want to have other routes?
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frantz: we would like to increase our presence. we are looking at in flights from new york to our european destinations and from europe most probably and hopefully one day perhaps hitting the west coast of the u.s. as well. and obviously going into asia wishes a market we can 't stay far from too long. rishaad: up next -- we're talking timing. the first fed rate hike in september. ♪
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susan: some of the stories making headlines around the world. rishaad: three minutes rescuers bowed in silence for the 430 victims of the yangtze river capsizing. the number of people killed rose to 431 with 11 people missing.
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specialists have begun working on dna samples to identify the dead. susan: german navy ship has rescued 500 migrants and brought them to shore in italy. in precarious conditions not far from libya, the navy managed to bring them on board safely. they were given medical checks food, and water. the italian coast guard says 3,500 migrants were rescued and 15 operations over the weekend. rishaad: the volcanic eruption from mt. kinabalu. remained highly active since last week when officials raised the alert to its highest level. anyone living within seven kilometers to leave their homes as a precaution. many farmers say they cannot afford to stop working. mt. kinabalu has a rep to sporadically over the last three years. susan: what -- joining me now is the chief investment strategist for bnp
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paribas. there was a distraction. christine lagarde giving a specific date to her friend at the fed there. 2016. stefan: yes, that's right. it is amazing the difference that one weeks make -- one week makes. nudging from the imf regarding the timing. then we had friday. the report that points to was that has to be, likely to be september of this year. rishaad: many people -- were faking september, but they have been thinking towards the latter end of the year. stefan: there is a lot of structural weakness in the u.s. labor market. at the same time, i think we are staring at inflation, a wage driven inflation in the pipeline. it is everywhere you look. there are very strong numbers in terms of bonus payments the service industry is paying to
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its workers. these kinds of things are foreboding of wage driven inflation and the fed will have to respond to that. david: it's consensus is not being pushed towards the latter part -- what does that do? if they do hike in september? stefan: it is is still very awkward position to be in. the last time the fed hiked rate s was 9 years ago. no matter how much the fed does to calm people down, for us as investors, when it does happen, it will be something that has not happened for ages. there is going to be uncertainty. yvonne: the first quarter gdp numbers ended up being contraction. is it lasting? stefan: there is a huge debate about that. for everybody in the market, the idea is a negative number for the u.s. gdp does seem odd. what a lot of people do is point
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to these trends, wheterher the strikes at ports, it is quite difficult, but if you look at what happened on friday, it is very impressive. 280,000 jobs. even the government is hiring. so, i think we should be focusing on that more than the gdp. susan: even if you look at today's chinese trade balance data, exports to the u.s. rose 7.8%. there is growth there that is also putting a big mark towards the u.s. economic recovery. stefan: there is sufficient evidence of a strong u.s. consumer. if you look at the housing market, there is a second wind that has come in. for a while, it was growing at a slower pace. a wealth effect that should help lift the consumer. rishaad: unless you're living in detroit. stefan we also -- susan: auto sales are coming back.
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rishaad: but they do not make them anymore there. japan showing this, too. first quarter data the story. usually impressive, 3.9%. up from 2.4%. 2.8% was the expectation. stefan: the bulk of investors like to stay skeptical. they like to say that abenomics is not working. then you have a company number like this. i think if we look at the number below that, in the labor market, the big issue with japan has been the last 20 years. there has been a shift towards part-time labor. and for the first time in a long time, you can see full-time labor growing much faster than part-time labor. so, japanese companies are responding to abenomics in the the way they have been asked to do, we are giving you a weaker yen. go hire people. and those people will spend. that is what is happening.
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the gdp number is great, but those concerns of people have about japan is being gradually diminished, which is wonderful. susan: what about capex? stefan: japanese culverts have been reserved in terms of spending money on capex. they have pointed to weak domestic demand. offshoring. david: it is making it more expensive to spend it outside? stefan: i think it is a fair point. the achilles heel p want to see capex reflected in the domestic economy, too. yvonne: when it comes to, the outlook for other countries stocks are uncertain. it's making japanese stocks more favorable? you said it is one of those underappreciated markets really. stefan: i think what is happened
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over the last 10-20 years especially for institutional investors, their structural neutral waiting in japan was driven to zero. they go t tired of having to explain to investors why they were losing market. that favors the brics. where we are today, people are catching up. they have to move from zero to 3%. and that will drive flows into the japanese market. susan: thank you for joining us. always good to see you. bnp paribas wealth management. rishaad: ok. up next, -- their image is in order. susan: we will ask a branding expert which logos get his seal of approval. ♪
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susan: u.s. elections more than
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a year away, but the candidates are vying for the top job. they have started making their mark. rishaad: images are vital for any campaign. that would include a local. we spoke to one expert to try and, who's hitting the right mark and who's having a miss? >> i wanted to find out what separates the good campaign logos from the bad ones. he's a partner and designer. seems like a fun place to work. you've probably seen some of their designs. the chase logo the library of congress, and many others. in general, what makes an effective logo? >> what it is meant to do is to help people remember you. a good, effective logo will be appropriate, simple and memorable. >> let's talk about ted cruz.
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>> what we can see starting with the typography is that there is a clear nod to tradition. when he things about his strengths with the far right and the religious conservative audeience. but there is a starkly -- there is something extreme the awkward about the cropping of that star. missing two limbs. it's bad. what we look for is a magical moment where the image and the type are merged beautifully. they were able to -- to create a negative space there between the a and the n and make a torch. the idea of liberty which is his hallmark is appropriate. all arournd, pretty good concept -- all around. >> marco rubio. what do you think? >> pretty smart.
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he's saying, i am the leader of tomorrow. the young one, very appropriate. however, the shape of the united states is a bad country. they shrunk it to the size of a dot on the i. >> what are your thoughts? >> very bold. the choice of the h. the arrow saying, moving forward. we have seen arrows. even fedex which is a famous logo had the silent arrow between the e and the x. the other thing about this mark is strategically it is not her name. in 2007,. she had a big hillary now it's just the h. more of a symbol for the moment and not to focus on her name. susan: you can get more on that and all the days top stories. watch his life for everywhere on the bloomberg app. we had a debate on that.
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rishaad: the h with an arrow. i'm no branding expert. susan: we will see if the poll have it. rishaad: see you tomorrow. that is it for this ed
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>> the following is a paid advertisement or the wonder core system. those unbelievable claims of weight loss. none of it has come close to working for you. quit wasting your time and money and get the body you always wanted now by doing it the smart way. that is right, the wonder

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