The most unexpected, despite the numerous missile neighborhoods launched by Iran to Israel and the damage to lives and property, the Tel Aviv Stock Exchange (TASE) lead the closed indices today with healthy profits of almost 0.5%. The market opened the negotiation day with decreases or around 1.5% in the main indexes, and around 2.5% in the bank rates, before balancing to 1% profits, but returning just less than 0.5% before closing.
The Chief of Commerce, indices and derivatives of TASE EVP, Yaniv Pagot, says that the last military movements of Israel are a decisive step for the best: “Anyone who has lived in the state of Israel during the last 30 years knows the words the Iranian threat, and the Iranian nuclear program, which has been a type of growth cancer in the Israeli economy, in the horizon of the state of Israel, Thesis.
Pagot emphasizes that despite the moral dissemination of speaking in economic terms at a time like this, the professional analysis is important: “It is difficult to speak in terms of a risk premium while people die here, and it is difficult to know what more is General Arthmeis of what is the most is that the other is the other in the area of the bullets of
“We still expect a lot of uncertainty and volatile days that are coming during the next two or three weeks, but in a little longer terms, it seems that the favorable conditions for investments in the TASE could be developed here. An important question: it has the risk premium decreased until the end of last week, investors should base their actions, and could fall significantly in recent years.
Pagot believes that the improvement in the security situation with Iran is very significant for the TASE. “Since the start of the year, nis 4 billion more you have entered the tase stock indices. These are very significant amount,
As for the bond market, Pagot points out that it is currently reacting with the most acute decrease, but that it is not a collapse. “We are currently seeing decreases of 0.5%-0.6%in the ten-year government bonus; even in the longest bonds, the yield is around 5%, which is a comfortable yield. A decrease in the geopolitical risk premium in the medium term could bring a significant interest rate cut by return to the table, which would also support the stock market.”
Pagot remembers his experience of past events: “I reminded my team the attacks in 2002 (suicidal terrorists in the second intifada), and I remember the attacks outside when I was sitting in the office and there were dozens of deaths. The market has learned to deal with this, and is not governed by the amount of blood and deaths and destruction and sadness, but because of the economic implications of this.”
He adds: “The event now takes me to the Second War of Lebanon. I managed investments there and I had many dollars in my portfolio. At that time, the missiles fell into the refineries in Haifa, and there was also an ammonia plant there, a mega mega mega mega. Situation calmed down and the dollar weakened.
