Mahmoud Abbas, who has led the Palestinian Authority since 2005 well past his original term through repeated postponements, remains in office amid ongoing discussions of succession and institutional reform. Recent developments include his October 2025 constitutional declaration naming Hussein al-Sheikh as interim successor in the event of a vacancy, his unanimous re-election as Fatah leader in May 2026, and decrees scheduling legislative elections for November 28, 2026, with presidential voting eyed for early 2027. These steps, alongside Fatah conference pledges for broader elections and PA restructuring, reflect internal pressures for renewal while highlighting structural barriers such as Fatah divisions, exclusionary election rules, and the absence of competitive mechanisms. Traders weigh the low likelihood of an abrupt exit against risks from Abbas's age, health developments, or post-election shifts in leadership dynamics.