The decline of BoI bond purchases may have contributed to higher yields

ISRAEL - Report 11 May 2020 by Jonathan Katz

The economy is gradually opening up as the number of new infections remains very low. Only one quarter of the fiscal stimulus scheme was executed through April; we expect a fiscal deficit of 9% GDP, below official forecasts. The BoI intervention in the government bond market has been minimal, and this explains, in part, recent higher yields. In politics, the Supreme Court gave Netanyahu the green light to implement the unity government agreement.

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