RUSSIA: Lavrov Pushes Back Again On Prospect Of European Peacekeepers In Ukraine

Feb-26 11:06

Foreign Minister Sergey Lavrov speaking at a presser in Doha, Qatar says, on the possibility of European troops being deployed in Ukraine as peacekeepers following any ceasefire, "We don't consider any such options", adding that the French and British idea of sending peacekeepers to Ukraine "is aimed at further fuelling the conflict." Calls discussions on the topic "empty talk" and "deceit, aimed at pumping Ukraine [full of] weapons". Lavrov says any deployment "would mean drawing Ukraine into NATO and totally destroying the rights of Russian speakers." 

  • Lavrov's comments once again come in stark contrast to those of US President Donald Trump. The US leader claimed that following his calls with President Vladimir Putin, the Russian leader would accept such a situation, saying He will accept that. I have asked him that question...Look, if we do this deal, he’s not looking for more war ... I’ve specifically asked him that question. He has no problem with it.
  • Regarding the Reuters report claiming that Russia could concede the USD300B in frozen assets held in the West as part of any ceasefire agreement, Lavrov says "this issue will not disappear as part of the future deal." The Reuters report claims that as part of an agreement, Russia would demand at least one-fifth of the funds are used for reconstruction in the one-fifth of Ukraine that its forces occupy.
  • Confirms that talks between Russian and US officials regarding the restoration of diplomatic links will take place form 27 Feb in Istanbul, Turkey.

Historical bullets

EQUITIES: Nasdaq is finding some dip buying

Jan-27 11:00

Nasdaq futures is finding some demand just short of the January low of 20,694.00 for now.

(Chart source: MNI/Bloomberg).

NQH5 Index (NASDAQ 100 E-MINI Ma 2025-01-27 10-56-57

EQUITY TECHS: E-MINI S&P: (H5) Pullback Extends

Jan-27 10:57
  • RES 4: 6200.00 Round number resistance   
  • RES 3: 6178.75 High Dec 6 and key resistance  
  • RES 2: 6163.75 High Dec 16
  • RES 1: 6105.25/6162.28 Intraday high / High Jan 24             
  • PRICE: 5982.75 @ 10:46 GMT Jan 27 
  • SUP 1: 5961.75 Low Jan 16         
  • SUP 2: 5943.94 61.8% retracement of the Jan 13 - 24 bull leg 
  • SUP 3: 5892.37 76.4% retracement of the Aug 5 - Dec 6 bull leg
  • SUP 4: 5809.00 Low Jan 13 and a key support 

The S&P E-Minis contract has started the week on a bearish note, extending the pullback from Friday’s high. Key short-term support to watch lies at 5961.75, the Jan 16 low. For now, the move down appears corrective, however, a breach of 5961.75 would strengthen a bearish threat and signal scope for a deeper retracement. This would open 5943.94, a Fibonacci retracement. Key resistance is unchanged at 6178.75, the Dec 6 high.

EGB SYNDICATION: Austria Dual-tranche mandate

Jan-27 10:56

Austria has announced a mandate for a new 10-year Feb-25 RAGB maturing 20 February 2035 alongside a tap of the 1.85% May-49 Green RAGB

Both bonds are as expected (see our weekly preview), with the timing having been uncertain due to the budget. We look for the Feb-35 tranche to be sized between E4.5-5.0bln (including E250-500mln retention) with a tap of E1.0-2.0bln of the 1.85% May-49 Green RAGB.