On October 29, the Russian market gained a foothold above 2,500 points, but it will not be easy to maintain its position: oil is getting cheaper, and the government's budget plans meet the risks of inflation and expensive loans. Global investors are assessing the scope of spending on artificial intelligence, and in Russia they are discussing new payments to air passengers and the financing terms for the budget deficit. The stock index of the Russian Federation at 10MSK decreased by 0.52%, to 2513.34 points, the RTS index - by 0.52%, to 979.11 points. Brent fell by $2.06, to $114.15 per barrel. Among the blue chips, Ozun (+0.86%), Yandex (+0.44%) and Tatneft (+0.11%) grew. The leaders of the decline are Polius (-3.2%), Surgutneftegaz (-1.08%) and Rosneft (1%). The basic scenario of the day is the consolidation of the index in the range of 2490-2550 points after overcoming the mark of 2500 points. The budget for 2027-2029, a similar committee recommended for the adoption of the federal budget in the first reading. In 2027, revenues are planned at the level of 43.3 trillion rubles, expenses - 48.7 trillion dollars, the deficit - 2.2% of GDP. By 2029, it is expected to be reduced to 1.9% of GDP. Among the risks, MPs raised a possible shortfall in oil and gas revenues, inflation and tight monetary conditions that could curb investment and consumption. It is not planned to use the NWF to finance the deficit. At an auction on October 28, the Ministry of Finance placed two Z-types for 156.8 billion rubles. The yield of securities with maturity in 2034 rose to 16.41% per year, with maturity in 2040 - 16.59%. In addition, the agency assumed after the auction of paper for 10.6 billion rubles. A high yield reflects loans under tight monetary policy. For investors, shale remains an alternative to stocks, but long issues are sensitive to changes in expectations. Savings: the money disappears from deposits.

On October 29, the Russian market gained a foothold above 2,500 points, but it will not be easy to maintain its position: oil is getting cheaper, and the government's budget plans meet the risks of inflation and expensive loans. Global investors are assessing the scope of spending on artificial intelligence, and in Russia they are discussing new payments to air passengers and the financing terms for the budget deficit. The stock index of the Russian Federation at 10MSK decreased by 0.52%, to 2513.34 points, the RTS index - by 0.52%, to 979.11 points. Brent fell by $2.06, to $114.15 per barrel. Among the blue chips, Ozun (+0.86%), Yandex (+0.44%) and Tatneft (+0.11%) grew. The leaders of the decline are Polius (-3.2%), Surgutneftegaz (-1.08%) and Rosneft (1%). The basic scenario of the day is the consolidation of the index in the range of 2490-2550 points after overcoming the mark of 2500 points. The budget for 2027-2029, a similar committee recommended for the adoption of the federal budget in the first reading. In 2027, revenues are planned at the level of 43.3 trillion rubles, expenses - 48.7 trillion dollars, the deficit - 2.2% of GDP. By 2029, it is expected to be reduced to 1.9% of GDP. Among the risks, MPs raised a possible shortfall in oil and gas revenues, inflation and tight monetary conditions that could curb investment and consumption. It is not planned to use the NWF to finance the deficit. At an auction on October 28, the Ministry of Finance placed two Z-types for 156.8 billion rubles. The yield of securities with maturity in 2034 rose to 16.41% per year, with maturity in 2040 - 16.59%. In addition, the agency assumed after the auction of paper for 10.6 billion rubles. A high yield reflects loans under tight monetary policy. For investors, shale remains an alternative to stocks, but long issues are sensitive to changes in expectations. Savings: the money disappears from deposits.