All Eyes on Putin's Victory Day Speech as Ukraine Conflict Reaches Key Juncture

LOCAL NEWS (1/2)

• Today marks Russia’s May 9 Victory day parade – signifying the anniversary of the defeat of the Nazis in WWII. This marks a key juncture in Russia’s war in Ukraine as many analysts speculated Putin wanted to deliver significant results or potential victory by this date.
• Additional concerns of full or partial mobilisation of the Russian population in a formal declaration of war to rotate tried troops and fortify supply lines are other theorised options for today.
• A broadening of the conflict to mark the West and NATO as the wider enemy is also a concern, but uncertainty is high and markets will be watching closely for potential next steps and the scope of domestic support for the war in Ukraine.
• Some analysts say, however, that Putin has sufficient grounds to declare a relative victory due to the establishment of the land bridge, broadening of separatist territories and “denazification” of the Azov battalion in Mariupol (although Azovstal steel plant is not fully defeated).