Israel's Stock Market Loves The Iranian Nuclear Deal

The Future of American Power
Nov. 24 2013 10:52 AM

Israeli Stock Market Soars on Nuclear News

120662036
Israeli stock market traders work at their office in the Meitav investment house in Tel Aviv on August 8, 2011.

Photo by MENAHEM KAHANA/AFP/Getty Images

Western stock markets are closed on Sundays, but Israel's exchange is open and its ongoing rally is continuing as the market reaches a new high today.

The kind of punditry where you draw a direct connection between a news event and a stock market rally can get a bit lame. But let's put it this way. Suppose this deal were the kind of national security disaster for Israel that congressional Republicans are making it out to be—wouldn't Israeli markets be tanking? One of the neat things about financial markets in this regard is that there's no percentage in bullshitting. You want to sell sell sell Israeli assets if and only if you actually have reason to believe some bad news about Israel has just hit the wires. In politics, there's often an upside to bullshitting. Right now, we have a lot of bearishness on Israel from politicians who see gains in painting Obama's policy as bad for Israel. But in financial markets, we see nothing but bullishness.

Matthew Yglesias is the executive editor of Vox and author of The Rent Is Too Damn High.

TODAY IN SLATE

Foreigners

More Than Scottish Pride

Scotland’s referendum isn’t about nationalism. It’s about a system that failed, and a new generation looking to take a chance on itself. 

Yes, Black Families Tend to Spank More. That Doesn’t Mean It’s Good for Black Kids.

Why Greenland’s “Dark Snow” Should Worry You

If You’re Outraged by the NFL, Follow This Satirical Blowhard on Twitter

The Best Way to Organize Your Fridge

Politics

The GOP’s Focus on Fake Problems

Why candidates like Scott Walker are building campaigns on drug tests for the poor and voter ID laws.

Sports Nut

Giving Up on Goodell

How the NFL lost the trust of its most loyal reporters.

Is It Worth Paying Full Price for the iPhone 6 to Keep Your Unlimited Data Plan? We Crunch the Numbers.

Farewell! Emily Bazelon on What She Will Miss About Slate.

  News & Politics
Politics
Sept. 16 2014 6:30 PM Nothing Succeeds Like Secession Breakaway movements across the United States want to get on the Scottish bandwagon. 
  Business
Moneybox
Sept. 16 2014 4:16 PM The iPhone 6 Marks a Fresh Chance for Wireless Carriers to Kill Your Unlimited Data
  Life
The Eye
Sept. 16 2014 12:20 PM These Outdoor Cat Shelters Have More Style Than the Average Home
  Double X
The XX Factor
Sept. 15 2014 3:31 PM My Year As an Abortion Doula
  Slate Plus
Slate Plus Video
Sept. 16 2014 2:06 PM A Farewell From Emily Bazelon The former senior editor talks about her very first Slate pitch and says goodbye to the magazine.
  Arts
Brow Beat
Sept. 16 2014 6:23 PM Bryan Cranston Reenacts Baseball’s Best Moments to Promote the Upcoming Postseason
  Technology
Future Tense
Sept. 16 2014 1:48 PM Why We Need a Federal Robotics Commission
  Health & Science
Science
Sept. 16 2014 4:09 PM It’s All Connected What links creativity, conspiracy theories, and delusions? A phenomenon called apophenia.
  Sports
Sports Nut
Sept. 15 2014 9:05 PM Giving Up on Goodell How the NFL lost the trust of its most loyal reporters.