Palm Beach joins the ranks of US municipalities increasing their borrowing from Israel

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The story "Palm Beach joins the ranks of US municipalities increasing their borrowing from Israel" was covered 1 months ago by Financial Times, a news publisher based in United States.

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Financial Times 1 mo ago

Palm Beach joins the ranks of US municipalities increasing their borrowing from Israel - Financial Times

Quick Summary:

One of the largest investors in Israel’s bonds is not a hedge fund titan or a Wall Street trader, but an elected municipal comptroller investing the tax dollars of Palm Beach County.

Abruzzo — who says he has received, “without exaggeration, full-room applauses and standing ovations” at community meetings for buying the bonds — said he was the first American investor to place an order for the Israel bonds after the October attack by Hamas.

Joseph Abruzzo, the overseer of investments for Florida’s largest county, holds $700mn out of his $4.6bn overall portfolio in so-called Israel bonds.