Israel Bonds Gain on Bets Post-Fischer Policy to Support Economy
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Israel’s benchmark government bonds rose, sending the yield lower for the first time in five days, on bets central bank policy will continue to support the economy once Stanley Fischer steps down as governor.
The yield on the 4.25 percent Mimshal Shiklit notes maturing in March 2023 dropped one basis point, or 0.01 percentage point, to 4.09 percent at the close in Tel Aviv, the lowest level since since Jan. 29, when Fischer announced his early resignation. The yield jumped eight basis points on Jan. 29 on the news, triggering concern that Fischer’s policies, which helped the economy recover from the global financial crisis, may be interrupted.