As we warned numerous times in the last few days [5] since the "de-escalation deal" was reached over Ukraine (sparking an instantaneous risk-on short-squeeze in stocks), the de-escalation has not happened. It seems even John Kerry has faced up to that reality now:
- *KERRY SAYS GENEVA ACCORD ONLY 'PIECE OF PAPER' WITHOUT ACTION
So now what? More red-lines? More sanctions? Just don't tell the headline-buying algos...
- *KERRY URGES RUSSIA TO TAKE 'CONCRETE STEPS' TO EASE TENSIONS
- *KERRY ASKS RUSSIA TO SHOW COMMITMENT TO UKRAINE AGREEMENT
But seems to ignore the planned troop and equipment deployment in Poland and the fact that Ukraine forces said "military operations in East Ukraine will continue"