Escalation in the North weighs on the shekel

ISRAEL - Report 23 Sep 2024 by Jonathan Katz

1. The shekel continues to weaken, and bond spreads are widening on the back of the escalation of hostilities.

2. Despite steady positive external fundamentals, the shekel has been more impacted by financial outflows.

3. The sharp decline in housing completions will continue to put upward pressure on housing prices as well as rentals.

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