Negotiators reached a phased ceasefire deal on Wednesday in the war in Gaza between Israel and the militant group Hamas. Here is some reaction to the deal.

The Government of Israel and Hamas agreed to a ceasefire, with hostages to be released and humanitarian aid to enter Gaza, potentially ending the 15-month conflict. Following extensive negotiations, a truce between the parties has been established in alignment with the framework previously presented by the US in May.

Shafrir notes that Israel's risk premium is still at high levels: "Israel's risk premium has already fallen sharply since the beginning of November (against expectations at the time for an end to the war in Lebanon), but it is still high - on the international market, Israel's bonds are still traded similarly to companies with a BBB minus rating."