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June 10, 2012 9:30 am

Spain Bailout Optimism Causes Israel 2022 Bond Drop

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Bank of Israel, Jerusalem. Photo: Ester Inbar.

Bloomberg – Israel‘s government bonds dropped, pushing yields to the highest level in more than two weeks, after investor optimism about a bailout for Spain tempered demand for safer assets.

The yield on the 5.5 Mimshal Shiklit notes due January 2022 climbed two basis points, or 0.02 percentage point, to 4.45 percent at 11:05 a.m. in Tel Aviv, matching the level on May 24. The Tel Aviv Bond 40 Index of corporate bonds increased 0.3 percent to 266.17, the highest intraday level since May 6. The TA-25 Index (TA-25) of stocks rose 0.4 percent.

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