A rally is underway after Putin's ordering of forces back to their bases after the completion of training exercises. In his first public comments since the overthrow of Viktor Yanukovych, he called the action an illegal coup but said he'd only send soldiers into the country in an extreme case. S&P 500 (SPY), Nasdaq 100 (QQQ), and DJIA (DIA) futures are all ahead 1%.
The Stoxx 50 is higher by 2.2% and Asia posted moderate gains overnight.
Russia's Micex is up more than 5%
Gold and oil give back a portion of yesterday's gains, each off slightly more than 1%, and Treasury prices give it all back and more, the 10-year yield now higher by six basis points to 2.66%.