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Negotiation optimism continues in global markets

Optimistic pricing for the Istanbul negotiations between Russia and Ukraine continues despite the assessments that Russia's decision to withdraw from Kyiv and Chernihiv was tactical.

Negotiation optimism continues in global markets

The rally that started in stocks and bonds after the concrete statements came out of the Istanbul negotiations is carried over to the new trading day.

The MSCI Asia Pacific index rose to the second day, while Hong Kong Hang Seng, China CSI 300 and South Korea Kospi were up.

On the other hand, Japanese stock markets diverge negatively with the 1 percent strengthening of the yen against the dollar.

While the S&P 500 index is closing with 1.2 percent for the fourth day in a row, futures are slightly declining. The dollar also fell as the negotiations progressed.

The Dollar Index is down 0.3 percent. Oil prices are rising this morning amid doubts over a Russian pullback after two days of steep declines. Brent May contract price finds buyers at $111, up 0.8 percent.

"Rally may not last long"
The glimmer of hope in the war in Ukraine created a massive rally in stock markets, and tech giants like Amazon and Apple erased their losses this year. However, according to some investment banks, the rally may not be long-term.

Morgan Stanley Strategist Srikanth Sankaran, with the optimism of the Ukraine-Russia talks, thinks that the rally in the stock and private sector bond markets is a temporary move. "The focus will definitely return to the Fed's hawk," Sankaran told Bloomberg TV. He said that the rally will disappear in the short term as the size of the Fed's rate hikes is priced in the markets.

According to Bank of America, US stocks, which have risen 11 percent in the last two weeks, bear the traces of a "bear market rally". According to BofA strategists, including Gonzalo Asis and Riddhi Prasad, the occasional rallies reflect typical recovery efforts seen in a bear market. Strategists think that with worsening macroeconomic indicators and the unfriendly Fed, it is not possible to sustain the rise in US stocks.

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