'Inflation Hawk' Patel is India's New Central Banker
Investors in Indian markets have a recent rally in bonds and stocks to thank for any nervousness Urjit Patel’s appointment as central bank boss is causing. Benchmark 10-year bond yields dropped to a seven-year low and the S&P BSE Sensex surged 5 percent through Friday following current governor Raghuram Rajan announcement on June 18 that he won’t seek another term. The rupee lost 0.2 percent and the benchmark stock index slid 0.4 percent as of 10:51 a.m. on Monday after Patel’s appointment was announced over the weekend. Bloomberg's Harsha Subramaniam reports and UBS Head of UK Investment Office Geoffrey Yu discusses with Bloomberg's Anna Edwards on "Countdown."