For the first time ever: Israel's credit rating went down - voila! Of money. Moody's lowered Israel's rating this evening to level A2 as well as the rating forecast to negative.
This is the worst scenario that could be expected tonight - both the downgrade and a negative outlook. The Treasury tried to prevent the downgrade when senior officials of the ministry held talks with Moody's. The rating is from the new budget, which lacks deep changes, significant reforms, etc. The bonds have already traded in the recent period at a high yield. Last night the shekel also weakened against the dollar due to the expected downgrade.