Markets brief
Tel Aviv Exchange Eyes Late Session as Global Yield Spike Hits Shekel
Tel Aviv Stock Exchange moves toward Wall Street hours as global markets face crude shocks and rising yields.
Markets
Extending TASE trading to 11 p.m. bridges the gap with Wall Street — unlocking liquidity for dual-listed tech stocks and international investors.
BackgroundThe Israeli market currently closes before major US macroeconomic releases and afternoon Wall Street trading sessions conclude. Dual-listed giants like Teva, Tower, and Palo Alto Networks experience liquidity fragmentation due to non-overlapping session hours.
- After-hours trading between 5:30 p.m. and 11:00 p.m. would allow local traders to execute orders directly alongside US market hours, reducing execution drag on dual-listed shares.
- The tokenization initiative explores distributed ledger settlement for equities, bonds, and ETFs without modifying existing investor protections, aiming to streamline cross-border clearing.
- TASE Chief Executive Ittai Ben Zeev noted the changes aim to attract foreign institutional capital and boost domestic trading volume across Israeli public markets.
Markets
Surging oil prices and rising 10-year yields are squeezing high-multiple tech stocks — pushing the shekel lower and resetting rate hike bets.
BackgroundA strong US payrolls report combined with geopolitical crude shocks renewed fears of persistent global inflation. Higher US bond yields draw foreign capital into dollars, creating depreciation pressure on emerging market currencies including the Israeli shekel.
- Benchmark US 10-year Treasury yields rose to 4.81%, triggering sell-offs across high-multiple software counters and driving global capital into dollar cash.
- The dollar-shekel exchange rate traded near ₪3.01/$ as global investors adjusted interest rate trajectories and repriced risk premiums across Israeli assets.
- Heating oil prices jumped 17% over four weeks, adding cost-push inflation pressure to global central bank policy and complicating Bank of Israel interest rate guidance.
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