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Stocks Pop On “Temporary Ceasefire” Reports, Russia Reportedly Sees “Substantial Progress”

Reuters reports that Ukrainian negotiators have said the two sides have reached an understanding on a joint provision allowing humanitarian corridors for evacuating civilians.

The same negotiator reportedly said that the agreement involved a temporary ceasefire during evacuations.

A Russian negotiator was quotes as saying this is “substantial progress,” and Tass reports that a 3rd round of talks will take place in coming days.

The reaction was immediate as we suspect the algos only read the first few words of the headline…

We further suspect the algos are making a little too much of this – especially given Putin’s remarks just minutes before about “de-nazifying the nation.”

Putin again said Russia was rooting out “neo-Nazis”, adding during the televised opening of a national security council meeting that he “will never give up on (his) conviction that Russians and Ukrainians are one people.”

He earlier told French President Emmanuel Macron that Moscow “intends to continue the uncompromising fight against militants of nationalist armed groups”, according to a Kremlin account of their call.

We also note that the reaction is actually quite muted given the optimism in the comments.

So what happens when the evacuees have left? Does Nike and Apple start selling to Russia again?

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