Marketfield

Marketfield: It has proven so resilient, hovering near a three-year high even as emerging-market currencies plunged 1.7 percent on average over the past month, that Israeli central bankers intervened in the foreign-exchange market on Aug. 7, buying dollars to weaken it by the most in 11 months, according to Bloomberg. You ve had many decades of turbulence in that part of the world, and no clear correlation between turbulence and equity-market performance, Shaoul, who oversees $20 billion in assets as chief executive officer at Marketfield, said by phone from New York. Theres no clear evidence that markets really care about this stuff and For perhaps the best sign of how its been business as usual in Israeli markets since the fighting broke out in Gaza, look no further than the shekel. The story has been much the same in other Israeli assets, with both stocks and bonds gaining. The TA-25 index advanced 1.2 percent in the past month, dodging a slump in global equities thats driven down the World Index 2.1 percent. A second three-day truce in the past week began last night, halting renewed strikes. The month-long conflict is doing little to hurt investor confidence in Israel , said Michael Shaoul at Marketfield Asset Management LLC in New York. (news.financializer.com). As reported in the news.