Europe Emerging Markets Research 02 August 2024 J P M O R G A N EM Quick Take: Risk premia in Israel's local markets • Amid increased geopolitical risks in the region we assess risk premia in Israel's local markets. • We find risk premia are currently on par with October 2023 and in some cases even exceeding that period. • In FX, USDILS spot is trading significantly above its fair value, with xccy basis reacting for the first time since October, indicative of USD liquidity demand. • In rates, the spread of ...