The Russian envoy is reported to have said that there will be no escalation, „not next week, not the week after, not in the next month“. And so the merry-go-round continues. How are you guys enjoying the headlines so far today? 😉

Meanwhile, Russia is reportedly said to be insisting on NATO publicly stating its refusal to take in Ukraine. You can’t help but wonder that there has to be another twist in the saga here before it all ends. This whole he says, she says thing is going nowhere really.

European indices have been pulled lower and are now trading in the red on the day, with US futures also erasing its light advance at the start of the session to be lower currently. The Eurostoxx, DAX and CAC 40 are all down 0.1% while S&P 500 futures and Dow futures are both down 0.2% now.As much as

Prior +2.3%Industrial production +1.6% vs -0.5% y/y expectedPrior -1.5%That’s a solid beat on estimates for euro area industrial output in December, with a solid rise in capital goods, intermediate goods, and non-durable consumer goods. Those were offset by declines in energy and durable consumer go