Today we can expect the continuation of moderate growth of the domestic stock market

The main event for Russian assets was yesterday's dialog between the presidents of Russia and the United States. There are no details, but the very fact of the talks and the intention to continue consultations on Ukraine and NATO expansion to Russia's borders is already positive.

In addition, the draft U.S. defense budget does not contain sanctions on Nord Stream 2 or a ban on transactions with Russian government debt.

Thus, political risks have weakened a bit today, in connection with which we can expect a cautious return of non-residents and continuation of moderate growth of the domestic stock market.

The external background in the morning is not bad either. After yesterday's rapid growth of US stock indices, futures on them are adding about 0.3%. However, oil is declining by the same amount. So far in the morning session, blue chips are trading in the green zone, adding about 0.5%.

With the opening of the European markets and the growth of liquidity in our country, the rise may continue, but it is still worth being vigilant, as the U.S. market looks locally overbought, and oil has reached the first growth target of 75-76 dollars per barrel.

We recommend paying attention to . Although the paper's upside has deflated recently, it could accelerate its climb today, rebounding from platinum and palladium rising more than a percent.

yesterday, as usual, confidently reported for 11 months. Taking into account the paper's strong decline in recent days, yesterday's growth by 0.7% looks weak. The paper would do well to go to the resistance of 320 rubles.

In general, the Russian stock market holds the 3800 points mark, repeatedly reversing from it. The nearest growth target for the MosBirch Index is the area of 4100 points, but so far we have strong doubts that it will be reached in the next few days. The Russian market still looks very weak, so we do not recommend making new medium-term purchases.

Today the ruble-dollar exchange rate is growing by 0.5%, but the fundamental picture does not change: the dollar-ruble pair remains clamped in the range of 73-74.7. We do not expect a strong strengthening of the ruble on the background of the reduction of political fears, the mark of 73 on the pair is likely to hold.

The situation on the bond market is again playing against the ruble, where the sale of OFZ has resumed. So far, the technical picture of the Moscow Exchange Government Bonds Index suggests that the indicator will continue to decline.