Dec. 5 (Bloomberg) -- Israeli bonds declined, pushing 10-year yields to the highest level in more than four months, as advancing stocks and optimism the global recovery is gaining momentum damped demand for the safety of government debt.
Israeli bonds tracked a drop in U.S. government debt as the Federal Reserve said the economy strengthened in 10 of its 12 regions, as hiring improved, manufacturing expanded and retailers anticipated stronger holiday shopping. Israel’s TA-25 Index rose 1.6 percent to close at a record 1,281.62.
“Improved economic growth is fueling a shift to riskier assets as the stock market remains solid,” said Arie Tal, chief strategist at Alumot-Sprint Investment House Ltd. in Herzliya, Israel.
The yield on the benchmark 5 percent Mimshal Shiklit due January 2020 gained 1 basis point to 4.65 percent at the 4:30 p.m. close in Tel Aviv, the highest level since July 15.
The shekel rose 0.3 percent to 3.6227 per dollar on Dec. 3.
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