Israel Gears Up For Military Strike In Rafah Despite Biden's Warning
Portfolio Pulse from Piero Cingari
Israel is preparing for a military operation in Rafah, targeting Hamas, despite U.S. President Biden's warning against such an action. The operation includes evacuating Palestinian civilians and has been confirmed by David Mencer, a spokesman for Israel's prime minister. Satellite imagery shows tent camps expanding in southern Gaza, indicating preparations for civilian displacement. The U.S. has recently signed a $95 billion foreign aid bill, including $26 billion for Israel and aid for Gaza. Turkey criticized the U.S. for perceived double standards in human rights policies. Israeli Defense Forces struck 40 Hezbollah targets recently. The iShares MSCI Israel ETF (EIS) traded 0.8% lower amid these developments.

April 24, 2024 | 5:06 pm
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The iShares MSCI Israel ETF (EIS) traded 0.8% lower amid news of Israel's planned military operation in Rafah and geopolitical tensions.
The iShares MSCI Israel ETF (EIS) is directly impacted by geopolitical events in Israel. The planned military operation in Rafah, despite international warnings, has likely contributed to investor concerns, leading to a decrease in the ETF's value. The involvement of the U.S. through financial aid and criticism from Turkey adds to the complexity of the situation, potentially increasing market volatility for Israeli assets.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90