- Global equity markets are rallying following sharp losses yesterday after Russia threatened a full-scale invasion of Ukraine and the U.S. rejoindered with the threat of sanctions.
- Sentiment has been helped today by what could be interpreted as a de-escalation of tensions by Russian President Vladimir Putin, who ordered some forces back to their bases after a surprise training exercise that began last week.
- However, there don't seem to be any major new developments regarding Russian soldiers in Crimea, where they have been surrounding Ukrainian army bases and controlling airports.
- Russian's MICEX is +4.9%, while the USD-RUB is -0.7% at 36.223 rubles.
- Japan +0.5%, Hong Kong +0.7%, China +0.2%, India +1.3%.
- Euro STOXX 50 +1.2%, London +1.1%, Paris +1.4%, Frankfurt +1%, Milan +1.7%, Madrid +1%.
- U.S. stock futures: Dow +0.8%. S&P +0.7%. Nasdaq +0.75%
- Gold is -0.8% and crude is -1.05%.