The Russian delegation at peace talks with Ukraine will not concede anything, reported Russia's state-run RIA media outlet on Wednesday, citing comments from a Russian delegate.
Market Reaction
As liquidity conditions dry up as the US session draws to a close ahead of the arrival of Asia-based market participants, markets have not seen much of a reaction to the latest headlines. However, ahead of Thursday's high-level talks between the Russian and Ukrainian Foreign Ministers in Turkey, such chatter about "not conceding anything" doesn't exactly inspire confidence that the two sides can make some progress towards reaching a compromise and agree on a ceasefire.
For now, its unwise to read too much into pre-meeting jawboning, with neither side likely wanting to play their hand yet. But headlines such as this won't be helpful to risk appetite and, indeed, did seem to be associated with some negative ticks in the US equity space ahead of the Wednesday close.
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