❗️🇷🇺 In May, Russia's Services PMI rose to 52.2, up from 50.1, indicating expansion in the sector. The Composite PMI also showed improvement, increasing to 51.4 from a previous 49.8, suggesting a positive shift in overall economic conditions.
📰 Foreign company stocks traded on the Moscow Exchange's over-the-counter section are struggling to attract significant investor interest. Launched to allow government officials to sell foreign assets they are prohibited from owning, trading volume in May reached only 562 million rubles. A major barrier to market revival is the substantial discount compared to prices on U.S. exchanges. Sellers resist parting with stocks for low prices, while buyers face hefty taxes due to price discrepancies between Russia and the U.S. — Ъ
⚠️🇷🇺 In an interview with Vedomosti, Dmitry Belousov, Deputy General Director and Head of Macroeconomic Analysis at the Central Macro-Economic Forecasting Center (TsMAKP), stated that the Central Bank should raise its inflation target from the current 4% to 7%. This change would enable a shift towards a more accommodative monetary policy. For more details, visit the full article here.
🛢🇷🇺🇪🇺 France and Belgium have rejected the European Union's proposal to ban imports of Russian gas, seeking more information on the economic and legal implications of such a move. This development highlights ongoing divisions within the EU regarding energy policies in response to the situation in Ukraine. For further details, refer to the source — Politico.
📉 Experts from the Financial University warn that the capitalization of the Russian stock market may deviate by a third from President Putin's target of 66% of GDP by 2030. In the baseline scenario, the deviation could range from 14 to 22 percentage points, according to their research. For more details, visit Vedomosti.
🚨 The CEO of Ripple has denied media reports claiming that the company ever intended to acquire Circle.
🇨🇳🇰🇷 China is prepared to strengthen bilateral relations with South Korea, according to CCTV.
💥 The OFZ index (RGBI) has surpassed 112 as markets anticipate a potential interest rate cut by the Central Bank of Russia on June 6. Even if a reduction is not on the agenda, investors are looking for clear signals indicating a shift towards a softer monetary policy.
📈 Barclays has raised its year-end target for the S&P 500 to 6,050, up from the previous forecast of 5,900.
⚠️🇺🇸 A "big, beautiful" bill proposed by Trump could potentially impact Tesla's profits, according to a report from JPMorgan. The financial institution suggests that the legislation may have significant ramifications for the electric vehicle manufacturer. For more details, visit the full article on Business Insider.
🚨🇺🇸🇬🇧 According to preliminary data from New AutoMotive, Tesla sales in the UK fell by more than 45% year-over-year in May.
⚡️🇷🇺 The Russian ruble is undergoing a special operation aimed at de-dollarization, according to sources.
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🚨🇺🇸 Morgan Stanley predicts that the US dollar could decline an additional 10% against major global currencies. Citi also forecasts further weakening of the dollar following the G-7 meeting as the US softens tariffs. Earlier, Deutsche Bank warned of an impending…
⚠️🇺🇸 Allianz has stated that Trump's "big, beautiful" legislative proposal could result in a decline of the US dollar against major currencies by at least 5%.