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Israel Ground Forces Attacked Hamas Positions In Gaza

CROSS ASSET

Reuters headlines crossed a short while ago which stated Israel ground forces had conducted a 'relatively large' incursion into Gaza. This was reported by Israeli Army Radio. The raid was reportedly carried out overnight, with Hamas positions attacked. The incursion was described as larger than those previously carried out.

  • The market impact has been relatively muted so far. US equity futures sit near session lows (Eminis near 4180.5, -0.70%), while the USD is around session highs (1278.80 for BBDXY). Oil, in terms of Brent, steady near $89.90/bbl. For US Yields there has been little reaction the Tsy curve remains little changed from opening level and is marginally steeper. TYZ3 deals at 105-19+, -0-02, as a narrow 0-06 range persists.
  • This is likely to be a watch point for markets given market reaction on Wednesday to comments from Israel Prime Minister Netanyahu stating the country was preparing for a ground invasion of Gaza.

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