Markets Are On A Tear All Over The World

Today is the exact opposite of yesterday.

Stocks are surging everywhere. US futures are up over 1%. Germany is up over 2%. Russian stocks are up over 5%.

The good times are being attributed to an apparent de-escelation (though by no means cessation) of the crisis in Ukraine.

Puting just gave a press conference and struck a tone indicating that he would not take things to a more militaristic level. He said that Russia had the right to intervene in Crimea, although he insisted that there was no plan to make Crimea part of Russia.

The Putin press conference came after earlier news that Russian troops massed on the Ukraine border for exercises were being told to return to their bases.

Gold and oil are both tanking.

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