Is Israel God's covenant people?
Yes, Israel is identified as God's covenant people. The transcript states that after the Church age, God will turn back to His covenant people, Israel. While the Body of Christ enjoys a unique position as children of God, Israel remains the nation with whom God has a covenant relationship, as Scripture indicates.
Les teaches that the Church, the Body of Christ, enjoys a position that Israel has never enjoyed and never will—being the very born ones of God through salvation. He notes that Gentiles who were once not reckoned as having anything to do with Israel's God are now called out as children of the living God. But when God is through calling out that people, as Romans 11 shows, He will turn back to His covenant people, Israel. So Israel remains God's covenant people, distinct from the Church.