Market Currents

• Monday, November 30, 2009

• 08:54 AM Merrill goes bullish on Israel, noting its resilient performance vs. other emerging markets, strong currency, and the fact that many investors remain underweight Israel. ”True to its traditional role of GEM diversifier, Israel has outperformed EM throughout each of seven major global corrections since 1993," firm says. (ETFs: ISL, EIS) 1 Comment

• Sunday, November 22, 2009

• 15:50 PM The Israeli shekel's fair value is 21% above the current rate, Merrill says, noting Israel's current-account surplus is set to triple this year. "Our fundamental model shows the shekel is massively undervalued." (ETF: ISL) 1 Comment