Bank Leumi

um deal with this i'll get to in a second why i think where it is risky but i'll say in a sense it could have been worse for an israel thing and what you said about the companies working the west bank this is where it can get really uh tricky because if it's companies that are involved in construction company in construction in the settlements, which would be all the major Israeli construction companies and the banks that finance these companies, then we're in a whole different game.

And I just don't see at the moment the UK boycotting Bank Leumi and discount and appalling the major Israeli banks.

So at the moment, we're not there.

Can we get there? Yes.

You know how, how my father is go...

My father used to work in, in one of the famous banks in Israel, Bank Leumi.

When he need to, uh, to go to the bank, he's physically is going to the, to the bank.

Yeah.

included things that went well beyond technical standards.

The Yishuv had its own postal service, its own radio station, Koy Yisrael, broadcasting before the state existed, its own banking system, the Anglo-Palestine Bank, which later became Bank Leomi, a national library, a university, These aren't community organizations.

These are the organs of a state.

The Hebrew University opened in 1925.

The Postal Service became the Israel Postal Company.

The radio station became the Israel Broadcasting Authority.

The Anglo-Palestine Bank became Bank Leumi.

The Haganah became the Israel Defense Forces.

The numbers this week have all been around sort of three point two, three point three percent.

Bank Leumi, uh, the Israeli bank, did a deal on Wednesday, uh, their second covered bond, and they were paying three point six one percent, which is, you know, if you're a hedge fund or an asset manager, that's, you know, that's potentially, uh, potentially attractive.

So that might partly explain this resurgence or renewal in interest from hedge funds.

You know, the guys I talk to, I sort of say, "Well, yeah, but, you know, hedge funds, they come and go, don't they? They're fickle." And they say, "Well, yes they are." But in the general direction of travel, they are seeing more from hedge funds this year than last year.