urjit patel has been working alongside raghuram rajan for three years now to set policy.t will be continuation, perhaps more low-key compared to raghuram rajan, who has seen some frictions with the government. maybe and terms of policy and getting along with the government, it might be seen as a positive thing. let's look at how the markets might be reacting to this announcement. there was speculation that the next governor might be inclined to do more in terms of pushing the inflation level, lower interest rates, and be less stringent on things like reviewing bank assets, bad loans for example. thatad: that is something raghuram rajan got credit for, trying to get the banks to clear up these nonperforming loans. there was quite a bit of political opposition. rosalind: that's right. the bonds and sensex has been driven to highs. that is partly because of continuing stimulus from central banks globally. and bondsarkets driven to highs, you see there, but that may be tempered by this appointment. he is seen as an inflation hawk, therefore he is likely to keep pressing on th

this is one of the things that raghuram rajan was trying to achieve. tment of urjit patel we have a hawk. than rajann more was. he helped rajan to set the inflation rate target in the first place, 4%. he will still drive through that policy. he has not been outspoken on his views on reviewing bank assets. expectations are for bond yields to rise. equities and declining in the coming weeks, but markets the coming frothy. bond markets are likely to see patel as a stronger proponent of inflation-center policy. yvonne: thank you. shopping, shift in what chinese tourists are buying when they visit japan. this is bloomberg. ♪ hey how's it going, hotcakes? hotcakes. this place has hotcakes. so why aren't they selling like hotcakes? with comcast business internet and wifi pro, they could be. just add a customized message to your wifi pro splash page and you'll reach your customers where their eyes are already - on their devices. order up. it's more than just wifi, it can help grow your business. you don't see that every day. introducing wifi pro, wifi that help

new leadership at the central replacingurjit patel raghuram rajan and providing uncertainty.umber on thursday, recent figures indicate resilience, but economist are forecasting a slight drop this time around. we have payroll growth in the u.s. expected to moderate and august after the strongest two months of hiring this year. the job numbers due later this week. in the chief joining us right here in hong kong today. i will start off with the payroll number. it does matter. at jackson hole, there was this call for stop using the same medicine to cure the ills. we need new medicines, but we did not get them, did we? >> the u.s., europe, and japan, ecb did anhe adjusting speech, saying we have to be aware that monetary policy is less efficient. thatght be the case monetary policy is counterproductive. rishaad: some are already saying that. >> especially in europe. negative rates have been bad for banks, reducing profitability. unwilling to lend more in the future. central bankers feel more and more that most of the burden should be shifted from monetary policy. what is the rest?

ra gur ram rajan. raghuram. >>> back to "world wide exchange." we're looking at fractional gains as you can see. the dow around 10 points. yesterday we were lower to the tune of similar amounts. valiums a little bit lower. people focus more on the olympics than trading portfolios. ail is the big driver yesterday. energy was up 3%. brought the markets back today. take egging a bit of profit for >>> gap missed stores estimates. the clothing companies didn't see foot tracks improve significantly and banana republic saw sells decline. >>> lending club reporting a wider than expected second quarter loss. >>> staffing provider randstad is buying monster worldwide. that deal worth $34 million. twilio saw quarterly revenue jump in the latest quarter. and gave a strong outlook on increased demand for its products. news corp. posting stronger than expected sales. digital real estate business. so mixed quarter there for news corp. >> now to today's must read stories catching our attention. this one is making the news today gop senator susan clinics wri coll