‘2010 saw the end of the global crisis and the beginning of the recession’, many a financial commentator summarize the events in these words. Indeed, 2010 can be characterized as a year of hesitant recovery for many western economies, as reflected in sluggish growth rates, high unemployment and in government endeavors to bring order to national budgets.
In comparison, Israel’s economy fared well, although apprehensions that the global recession will slow down exports and growth here gained momentum this past year as well.
Against this backdrop, it's easy to comprehend the relatively mild performance coloring Israel’s financial markets in 2010. After spiking 90% in 2009, the TA-100 index had to settle for relatively modest gains in 2010. Towards the end of the year, index and trade volume figures reached levels similar to those of the end of 2007, however in an entirely different economic environment – an environment in which interest rates and growth rates were significantly lower than in 2007.
Click here for full details.