Market update: Global risk-on extended the rally of the Russian equities


RTS : 820 | Brent spot: 39.2 | RUB/USD : 72.40

The past week has brought excellent returns to investors of risky assets – emerging markets added about 3%, oil prices increased 7% and touched $40 per barrel Brent.

One of the best performers in EM is off course Russia – RTS added solid 5% and raised about 25% from early February in UDS terms.

I think that the main two points for investors who bought risks is 1) potential monetary easing by ECB and BOJ with FED staying dovish 2) recession fears flew away after portion of solid macro from US.

I’m still waiting for healthy correction on the Russian market and the main trigger for it will be oil prices that looks overheat right now.


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