Independent Investment Analysis
RFC Capital Research
Capital & Markets
Analysis · Strategy · Perspective

Markets, capital, and the discipline of patient investing.

RFC Capital Research publishes the independent analysis of Ruslan Averin — an investor focused on public markets, sovereign and corporate fixed income, cross-border real estate, and capital allocation across emerging and frontier markets.

No institutional mandate, no house view to defend — a working record of how one investor thinks about risk, value, and the markets most analysts avoid.

Brent's $6 Qeshm whipsaw: why cheaper crude has not reached Ukraine's pumpsGold's Worst October Since 2008: What the $3,875 Close Means for SaversKyiv Warehouses: Stock Falls to 1.05 Million sq m as Rents Climb 8%Shell and TotalEnergies 29 October: Buybacks, Not Profits, Will Decide the ReactionKyiv New Builds: 44.2 Months of Supply Against Just 180 September SalesICU Forecast: UAH 49.2 by End-2027 and the Break-Even Point for Hryvnia SaversRussian Pensions in 2027: Two Indexations, 6.8% and 3.3%, and an Average of RUB 29,904BlackRock Q3 2026 Preview: $14.31 EPS Hinges on Performance Fees, Not Just FlowsCash Overtakes Deposits in Russia: 38% vs 37% and 22.23 Trillion Rubles in CirculationCitigroup Q3 2026 Preview: $2.65 EPS, a 13% RoTCE Run-Rate and the Banamex ClockWells Fargo Q3 2026: Why $12.8 Billion of Net Interest Income Decides the StockGemini's Breakout at Three Real Firms: Alphabet Held Firm, Security Budgets Get the BillReserves, Not the Rate: What Ukraine's 45-Hryvnia Dollar Really Signals for 2026-2027NBU on 17 September: the 16% Question and the Five Markets It TouchesEl Nino Hits Very Strong: Sugar and Rice Have Repriced, Cocoa and Coffee Have NotKyiv Buy-to-Let 2026: Why Entry Price Beats the District in Every Yield ModelKyiv 2026: Where $70,000 Actually Earns More — Apartments, Pre-Sale, Retail or BondsKyiv 2026: Which Housing Programmes Actually Stack Into One Apartment DealYou Cannot Buy Pornhub Stock — Here Is What the Ownership Actually Looks LikeInsulet Cut Its Full-Year Outlook and Lost 17%The IMF Just Released Ukraine's Second Tranche — And Attached a WarningUkraine's IT Sector Exports $6.45 Billion and Ranks Fifth WorldwideServiceNow — A Great Business Caught in the SaaS DowndraftNorthrop Grumman — Cheap Missile Defense After the War Premium FadedThe Semiconductor Selloff — When the Market's Winners Become the Fault LineBoeing (BA) Slipped Even With Its Best Q1 Since 2019 — The Market Is Pricing the Balance SheetEmployers Are Quietly Dropping GLP-1 Coverage for 2027 — The $149 Pill Changed the MathThe SpaceX IPO Set Off a Space-Stock Frenzy — UFO, Redwire and the Names Riding the HaloBYD vs Tesla: The EV Margin War Is Over — And Tesla Didn't WinUkraine's Debt Restructuring Sets a Precedent Every EM Investor Should Price Now