The Day at a Glance | December 26 2023

*Israel launched more attacks in Gaza. 

*Ukraine attacked a Russian landing ship, Moscow admits damage. 

*Former Bank of Japan board member Takako Masai criticized Governor Ueda’s market messages, which could be confusing the market. 

*Oil rises as investors monitor tensions in the Middle East and speculate on when rate cuts in the US might begin.

Economic environment

Israeli artillery fire pounded the center of Gaza on Tuesday after Prime Minister Benjamin Netanyahu vowed not to relent in the attacks against Hamas. Israel is determined to achieve its goal of destroying the Hamas military group despite recent global calls for a ceasefire in the 11-week-long war. Concerns are rising that the conflict may escalate as forces aligned with the United States and Iran could clash in other parts of the region. Since Hamas carried out the deadliest Palestinian militant attack against Israel in the country’s 75-year history, Netanyahu has responded with a full-scale assault on Hamas-ruled Gaza. Additionally, the US military has been attacked at least 100 times in Iraq and Syria since the war between Israel and Hamas began in October, primarily with a combination of rockets and one-way attack drones. Washington has been urging Israel to implement new measures to minimize harm to civilians for weeks, including the designation of safe zones and the clearance of humanitarian routes for people to escape.