Azorim-Investment Development & Construction Co.’s bonds gained, pushing the yield down the most on record, after investors sought more than three times the amount available of the Israeli company’s debt.
Bezeq Israeli Telecommunication Corp. 2022 bonds fell, lifting the yield to the highest in more than a month, as the country’s largest phone service provider today plans to sell debt in a private placement.
Bank of Israel Governor Stanley Fischer, who last week unexpectedly cut the benchmark interest rate to a three-year low, may not be done yet, according to Jonathan Katz, an economist at HSBC Holdings Plc.
EZchip Semiconductor Ltd. is beating peers by the most since February after Cisco Systems Inc., which contributed 43 percent of the Israeli chipmaker’s sales last year, said demand for products using their technology is rising.
The shekel slid to a two-month low after Israel’s central bank pledged this week to buy foreign currency to arrest appreciation and as optimism the U.S. economy is improving fueled gains in the dollar.