In Asian Equity Markets stocks rallied on Wednesday as fears of a Russian invasion of the Ukraine this week dissipated after Moscow indicated it was returning some troops to base from exercises, delivering investors a measure of relief. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.9 percent in early regional trade on Wednesday. Japan’s Nikkei rose 1.9 percent to rebound from two days of falls, while Australia’s S&P/ASX200 gained half a percent. Elsewhere in the region, Hong Kong’s Hang Seng Index jumped 1.1 percent early in the session, and China’s CSI300 Index was up 0.4 percent.

In Currency Markets the euro’s rally from the previous day petered out in Asia on Wednesday, though it held its overnight gains, as optimism after reports that some Russian forces had moved away from the Ukraine border, was tempered by news of a cyber attack. The euro was marginally softer at $1.1347 having jumped 0.45 percent the day before. The safe haven yen softened slightly and was last at 115.67 per dollar, having briefly touched 114.99 on Monday, when tensions were higher. Overall, the dollar index steadied after Tuesday’s losses and was at 96.03.

In US Equity Markets stocks ended sharply higher on Tuesday, as signs of de-escalating tensions along the Russia-Ukraine border sparked a risk-on session. The Dow rose 1.22 percent, to 34,988.84, the S&P 500 gained 1.58 percent, to 4,471.07 and the Nasdaq Composite added 2.53 percent, to 14,139.76. Restaurant Brands International rose 3.6 percent after the fast food operator beat quarterly profit and revenue estimates. Hotelier Marriott International also beat Wall Street expectations due to rising occupancy rates, sending its shares up 5.8 percent.

In Commodities Markets oil fell over 3 percent on Tuesday, retreating from a seven-year high after Russia said some of its military units were returning to their bases following exercises near Ukraine, a move that appeared to de-escalate tension between Moscow and the West. Brent crude fell 3.3 percent, to settle at $93.28 a barrel. U.S. WTI crude fell 3.6 percent, to end at $92.07 a barrel. Spot gold was down 0.8 percent at $1,855.06 per ounce. Palladium fell 4.6 percent to $2,252.68 per ounce. Spot silver lost 2 percent to $23.36 per ounce, platinum was down 0.4 percent at $1,024.13.

In European Equity Markets stocks pulled back some of their recent losses on Tuesday following reports that some Russian troops near Ukraine were returning to their bases, while some positive corporate updates also boosted sentiment. The pan-European STOXX 600 index ended 1.4 percent higher after falling for three consecutive sessions, winding up on Monday at its lowest since Jan. 24. UK-listed miner Glencore gained 1.2 percent on the selling of its stake in Russia’s Russneft. Randstad rose 4.7 percent after the recruitment firm topped market forecasts for fourth-quarter earnings.

In Bond Markets benchmark U.S. 10-year Treasury yields rose on Tuesday after Russia said it was moving some troops away from the Ukrainian border, boosting risk-taking in financial markets. The yield on 10-year Treasury notes was up 4.7 basis points to 2.0434 percent. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was down 2.2 basis points at 1.567 percent. The breakeven rate on five-year U.S. Treasury Inflation-Protected Securities (TIPS) was last at 2.85 percent, after closing at 2.877 percent on Monday.