Today’s Russia/Ukraine Update

🇺🇦 After several hours of peace talks in Istanbul, Turkey, yesterday, Russia said it will scale back fighting near Kyiv to "increase mutual trust."

• Russian President Vladimir Putin also agreed to meet with Ukrainian President Volodymyr Zelensky for the initialing of a peace treaty once negotiations are complete.
• Ukrainian officials offered some potential concessions in negotiations – including neutrality and a willingness to discuss the eastern Donbas region – in exchange for international security guarantees along the lines of NATO’s military alliance.
• Pentagon press secretary John Kirby said Russia’s moves following its announcement appear to be “a repositioning, not a real withdrawal… we all should be prepared to watch for a major offensive against other areas of Ukraine.”

How the invasion is impacting…

📈📉 Markets: Stocks rose across the board yesterday, as all three major US indexes moved closer to finishing a month in the green for the first time this year. (Dow: +1.0% | S&P: +1.2% | Nasdaq: +1.8%)

• Oil prices neared their lowest levels in almost two weeks before rebounding to close at $110 per barrel. The average price for a gallon of gas in the US has barely moved over the past week, hovering around $4.24.

🪙 Crypto: The price of bitcoin has risen 24% since Russia invaded Ukraine, reaching ~$47,500 yesterday. The world’s most popular crypto has now erased nearly all of its losses in the year to date (-0.5%).