In January, the M2 monetary aggregate continued to fall.

Therefore, we are seeing a decline in lending, and the interest rate will follow suit. This also makes long-term bonds and debt instruments worthwhile.

By the topic here:

https://fondmarket.ucoz.com/blog/budget_expenses/2026-01-29-809

In the last three days of January, the Ministry of Finance spent 1,180 billion rubles. Good pace,

But this does not significantly change the annual pace of budget expenditures.

Severstal has published a report that investors will not like.

Figure 1.

FCF dropped into the negative zone.

Net profit and working capital sank significantly.

Thus, investors will not receive their income.

If we evaluate the overall picture, then stock prices are trading below the linearly approximated trend, which coincides with the dividend line for eight future years.< ... Читать дальше »