The, were taking a look at the biggest stories of the week. Im rachel ruble live in moscow. But as the g 20 summit wraps up in new delhi, we continue our special coverage of the global gathering here on our T International. The well as the day to the summit got underway, World Leaders and representatives, including Russian Foreign ministers circuit land. Rob arrived at the Mahatma Gandhi memorial for india and Prime Minister moody welcomed each guest with the gift of a base scarf made of hardy fabric, which was promoted by Mahatma Gandhi himself. And on the 1st day of the summit, the g 20 Group Adopted a final declaration with a somewhat neutral stance. Russia, much to the disappointment of western states, was not condemned in the document concerning the ukraine crisis. Another key point is the invitation of the African Union to the g 20 club as a permanent member. The d 20 committed to enhance ties with the african continent which plays an Important Role in the Global Economy as the d
An inefficient flow of credit has been through these major issues, plaguing policymakers, but i could see a turning point. But we got yesterday late in the bothnoon was a bit on fronts when it comes to gdp coming in for china. Fourthquarter gdp beating expectations at 6. 8 on year. That was the first full year acceleration since 2010. On a nominal level, it looks more impressive. To go look at this chart. This is more impressive in terms of the this is more important in terms of the sustainability, which it has been driving the growth we have seen over the past 10 years for china. Heres the chart on your bloomberg. And whathe impulse, you are seeing is the amount of new credit needed to generate each dollar of output. . 28 int it just shy of 2017 falling from . 30 in 2016. Morgan stanley congress a turning point when it comes to credit efficiency. China has cycle for peaked and jpmorgan saying that inefficient credit allocations has started to bottom out, a little good news when it com
David einhorn says it is putting inadequate and dangerous products on the road. Betty not one to mince words, David Einhorn. May be it is frustrating him overall because it is an example of the stocks that had been lifting the market that he has not been a part of because he is a value investor. I wanted to show a chart for our which showsbtv 440, you how much value stocks have lagged behind. More than half, in terms of growth over the last year, behind the growth stocks, the. N. G. s, the tech stocks. Buy into stocks like amazon and tesla not the boring old value stocks. Yvonne he is not the only Hedge Fund Manager that has been lamenting this. Is he waving the white flag too soon, given the rotation we saw . We did see more buying into the value stocks like the financials, theyre are up 15 in september alone. Going the other way. Perhaps he is speaking too soon breaking outelds to 2. 4 percent. Could be adding fuel to the fire in this bank rally. Betty i would be curious to hear what
Channels and 1,000 videos were likely linked to moscow. However, it says the viewership of those videos was low. Lets kick it off with breaking news. Industrial production numbers for september, coming out, blowout numbers here on the year on year figures. 8. 4 for the month of september. The estimate was for 4. 8 . Month by month though seeing a mills. Still seeing quite a bit of resilience. Especially when it comes to year on year. This is the highest weve seen in four years on the factory side of things for korea. Well see how things fare, but really seems like this data may just fall in the shadows of all that is happening with this drama when it comes to the manafort indictment. Testimonies under way pretty soon, as well as that phasingin of the tax reform. That could be the big culprit, why we did see that pullback when it comes to markets. Lets look at how things are faring here in asia so far. On the back drop of all that, we are seeing a little bit of green here on the index 5
Next up is nato, an organization he attacked during the campaign. We have world coverage here on daybreak asia, we keep an eye on vienna. Betty opec is meeting there. Continuing fallout from the Trump Administration budget and what the cbo calculated on a health care bill. This is daybreak asia, live from our new york and asia headquarters. I am new york i am in new york, it is just after 7 00 p. M. Yvonne i am yvonne man. It threw us off guard. Everyone raising rates. Perhaps that means a june. By another word, prudent. Caution from the fed about when we could come out of this. Betty you have to look at the data and not blame the fed for giving mixed signals. Data itself is showing mixed signals in a consumer confidence, consumer spending, diverging. You have a job market so hot in the u. S. , but then inflation is so not hot. What is going on . You cannot blame the fed for putting their feet in both areas right now. In any case, Market Investors really parse those minutes. The focus