(Bloomberg) -- Israel’s currency and dollar bonds posted some of the best gains in emerging markets after the nation said it will send a delegation to a new round of talks for a cease-fire deal with Hamas.
The shekel rose 1.1% against the US dollar as of 11:41 a.m. in Tel Aviv, one of the strongest currency rallies globally on Friday and a fourth day of gains. The nation’s sovereign dollar bond due in July 2030 rose 0.7 cent on the dollar, among the top performers in the Bloomberg EM Sovereign Total Return Index.
Investors are growing more optimistic about renewed efforts for a pause in the war between Israel and Hamas as the US, Qatar and Egypt ratchet up pressure to negotiate. Meanwhile, US jets reached the Middle East in a bid to deter Iran and its proxies from attacking Israel, alleviating fears of a broader war that caused a selloff in Israeli assets earlier in the week.
The benchmark TA-35 Index, some of whose biggest members are tech companies, has also clawed back ground after the global market slump on Monday. The benchmark completed its biggest three-day rally since November on Thursday.
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