The best news of all

I’ve been very affected by the all the video footage of Ukrainian suffering these past few weeks. I have also felt that it would be difficult for stocks to get back to new highs in the absence of a ceasefire. Not only because of the surging commodity prices driven by the war itself, but because of the sentiment surrounding an event like this – thousands of civilians hurt or killed, escalating rhetoric threatening trade and stability, etc.

So today’s talk of a softening of the Russian position is extremely encouraging, even though we know not to trust everything we hear.

Barron’s relays the good news as we currently understand it:

Russia will “radically” reduce its military activity in northern Ukraine, including near the capital Kyiv, after “meaningful” talks in Istanbul, Moscow’s negotiators said Tuesday.

“Given that the talks on the preparation of an agreement on the neutrality and non-nuclear status of Ukraine have moved into a practical field… a decision has been made to radically… reduce the military activity in the areas of Kyiv and Chernigiv,” said Russia’s deputy defence minister Alexander Fomin.

Chief negotiator Vladimir Medinsky said there had been a “meaningful discussion” at the talks and that Ukrainian proposals would be put to Russian President Vladimir Putin.

He also said that Putin could meet Ukrainian President Volodymyr Zelensky.

I’m hopeful that a deal can be struck, even if its conditions are less than ideal for NATO or the Ukrainian citizens living in the eastern part of the country. A cessation in the bombing and the safe passage of people trapped in besieged cities is long overdue. This whole episode has been absolutely barbaric, among the worst global events I’ve seen in my lifetime.

Stocks are continuing higher on these new developments, as they should be. We’re not out of the woods on all fronts, but this was certainly one of the worst headwinds being faced by investors so far in 2022. Today’s news is the best news we could have asked for, on multiple levels.

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here:

Please see disclosures here.

What's been said:

Discussions found on the web