U.S. Stock Futures Are Higher With Potential Cease Fire Between Ukraine & Russia

U.S. stock futures are higher.  The combination of a potential cease fire between Ukraine/Russia and lower global energy prices are driving equity futures higher this morning.  Officials from both countries are set to discuss peace talks in Istanbul and Ukraine is open to a condition of neutrality. Treasury yields are trading higher, with the intermediate part of the curve higher compared to the 10y.  The inverted curve, with longer term yields lower compared to shorter term yields, signals a possible recession but the overall treasury market is distorted due to the Fed’s aggressive purchases over the last two years and may warp any meaningful conclusions.  OPEC+ will meet this week to discuss production levels.  Global markets are mainly higher and credit spreads are relatively narrower to treasuries.