World share markets increased and global borrowing costs climbed since the first face-to-face talks between warring Russia and Ukraine in nearly three weeks yielded signs of progress.
US stock indices jumped over 0.5%, Europe's main bourses enjoyed 1% to 2.5% gains, and oil tumbled 4% as Russia's deputy defence minister emerged saying Moscow has decided to drastically cut military activity around Ukraine's capital Kyiv and also Chernihiv.
Wall Street looked set to extend a three-day run of gains.
Asia had been lifted overnight too after the Bank of Japan defended its vast stimulus programme, although the yen's worst month since 2016 was still raising eyebrows.
Dealers also shrugged off bigger-than-expected drops in French and German consumer confidence data and signs that Russia will push ahead with plans to start billing for its gas in roubles, and is prepared to risk a historic sovereign debt default.
Germany's benchmark 10-year Bund yield - the main gauge of European borrowing costs - hit its highest since early 2018 and 2-year yields turned positive for the first time since 2014, adding to the seismic shifts in global rates markets this year as inflation has surged.
US Treasury yields paused their ascent on Tuesday, but have risen an eyewatering 165 basis points this quarter.
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