Every headline on the Russia-Ukraine situation is either a step closer to war or a step further away.
The Lavrov comments from earlier suggest a continued window for diplomacy as he said there is a way to move forward. Putin signaled that talks with the US and NATO will continue. Earlier, there were back and forth comments on whether Ukraine would abandon the goal of NATO membership.
Cryptically, Russian defense minister Shogu told Putin that some military drills are coming to an end. You can read that one either way.
Obviously, the next 48 hours are going to be hugely pivotal. Every headline is potentially a huge swing.
The yen is a straight-forward proxy trade for war or not, something I highlighted here. At the moment, the yen is giving back some ground, stock futures have rebounded and oil is down $1.
At the very least, talks buy more time but that might simply extend the timeline of tensions beyond this week.
