Tel Bond Index
The TASE's family of corporate-bond benchmarks — the reference point for Israeli credit.
Definition. The Tel Bond indices are the Tel Aviv Stock Exchange's family of corporate-bond benchmarks — Tel Bond 20, 40, and 60, plus shekel and CPI-linked variants — that serve as the reference for Israeli credit.
Maintained by the Tel Aviv Stock Exchange, the Tel Bond series tracks the most liquid corporate debt issued by Israeli companies, segmented by linkage (nominal shekel vs. CPI-indexed). Israel’s bond market carries outsized weight relative to equities because domestic pension and provident funds deploy large pools of capital locally — so the Tel Bond indices drive more allocation than corporate-bond benchmarks do in most markets. Spreads over government debt on these indices are the working measure of Israeli corporate credit risk.
