Independent Investment Analysis

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.

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Latest

Markets

Amazon's $42.4 Billion Cash Drain Overshadows Record Margin and 39% AWS Growth

Recent Analysis

Markets

Refining Outage, Not Crude, Drove Exxon and Chevron Past Q3 2026 Consensus

Exxon and Chevron Q3 2026 results beat LSEG consensus on record refining margins, with $9.4 billion returned and a $20 billion 2027 buyback plan.

Real Estate

Kyiv Rents Slide to UAH 16,000 While the NBU Lifts Its Rate to 16.5%

Kyiv rent fell 11% to UAH 16,000, the NBU raised its rate to 16.5% and eOselya reached 6,945 loans worth UAH 13.9 billion in October 2026.

Real Estate

Kyiv Warehouses: Stock Falls to 1.05 Million sq m as Rents Climb 8%

Kyiv warehouse stock fell 34% to 1.05 million sq m by August 2026, vacancy is below 1% and prime rent reached $5.7 per sq m a month.

Markets

Ukraine at 16.5% While the Fed and ECB Freeze: Deposits, OVDP and the Hryvnia

NBU rate 16.5% from 30 October 2026: Fed holds at 3.75–4.00%, ECB at 2.50%, hryvnia UAH 45.5293 per dollar, deposit and OVDP yields explained.

Markets

Amazon Q3 2026 Preview: The AWS Bar, a $220 Billion Capex Bill and an Anthropic Mark

Amazon Q3 2026 earnings preview: the AWS growth bar near 35%, $220 billion capex, a $190.4 billion Anthropic stake and the five lines that move the stock.

Markets

Eli Lilly Q3 2026 Preview: Volume Versus Price, and the $22.58 Billion Question

Eli Lilly Q3 2026 earnings preview: $22.58 billion consensus, Mounjaro and Zepbound price erosion, Foundayo's first full quarter and the 2026 guidance math.

Two Holds, One Message: How the Fed and ECB Decisions Reach the Hryvnia NBU Key Rate on 29 October 2026: A Forecast Meeting With 10% Inflation on the Table Netflix Q3 2026: A Profit Beat Undone by a $300 Million Advertising Downgrade Ukraine Household Gas: UAH 7.96 Locked to April 2027, While Delivery Does the Moving Russian Pensions in 2027: Two Indexations, 6.8% and 3.3%, and an Average of RUB 29,904 Bank of America Q3 2026: The Quarter Management Already Marked Down Outage Economics in Ukraine: What a Generator, EcoFlow or Home Battery Costs per kWh Ukraine's Treasury Queue: UAH 18bn VAT Refunds on Hold While $27bn Hangs on Reforms JPMorgan Q3 2026: Why the $105.5B NII Line Matters More Than the $5.93 EPS Bar Bali or Phuket in 2026: How a 10% Advertised Yield Ends Up as 3% in Cash Novo Nordisk Drops 7.65% on Its London Reset: Peer-Group Growth and a 2032 Deadline Reserves, Not the Rate: What Ukraine's 45-Hryvnia Dollar Really Signals for 2026-2027 Kyiv Rent Falls to UAH 18,000 in September 2026 as Uzhhorod and Lviv Jump 33%Lennar's August Quarter: the 12.9% Incentive Line Meets a 6.76% Mortgage Ukraine 2026: What Tax an Apartment Costs at Every Stage of Ownership Record $6.23 Diesel: The Refining War Behind Trump's Appeal to Kyiv Kyiv Rental Income in 2026: Choosing a Tax Regime Before the Platforms Start Reporting Ukraine's Seven-Year Housing Table, Recalculated in Real Terms City by City You Cannot Buy Pornhub Stock — Here Is What the Ownership Actually Looks Like DaVita Beat Estimates, Reaffirmed Guidance, and Fell 18%The EU's €90 Billion Package: Borrowed on Markets, Not Taken from Russia 14 Million Tonnes of Wheat, 25 of Corn — Ukraine's Grain Trade Still Works Occidental (OXY) Pulls Back as Oil Crashes on the US-Iran Pause SpaceX — A Starship Scrub and a 20% Repricing of the Private Giant Badger Meter — A 33-Year Aristocrat Turning Into a Water-Software Play The Semiconductor Selloff — When the Market's Winners Become the Fault Line Adobe (ADBE) Fell -6.8% on a CFO Exit — Not on the Numbers Anthropic Just Overtook OpenAI: $965B vs $862B — What the Flip Means for AI Investors Shale's Q1 Scoreboard: Diamondback Beat by 10.5% and Still Fell — Here's Who Actually Won TD Bank Returned 73% in a Year — Now the Math Says It's 10% Overvalued