The ceasefire agreement between Israel and Palestinian militant group Hamas in Gaza reduces the risks to Israel's public finances and could improve its sovereign credit rating, the major credit rating agencies said on Tuesday.

In the days since a fragile ceasefire took hold in the Gaza Strip, Israel has launched a major military operation in the occupied West Bank and suspected Jewish settlers have rampaged through two Palestinian towns.

The Israeli military says it “continues to attack” inside the Gaza Strip as a dispute with Hamas delayed the start of a planned ceasefire.

The long-awaited ceasefire in Gaza came into effect Sunday morning, after a delay of nearly three hours from the expected time. BBC News reports that Gazans are beginning to return to their homes, after Hamas fulfilled the condition of ceasefire,

The Israel-Hamas ceasefire appears to be holding as many Palestinians venture to where their homes once stood to dig in the rubble. CBS News' Elizabeth Palmer reports.

Even surrounded by death, Gaza surged back to life as the ceasefire came into effect. Street markets re-opened, buzzing with activity as about two million residents tried to return to their homes and pick up the pieces.