Putin Orders 3-Day Halt of Strikes on Kyiv

This is a tactical pause rather than a strategic shift, and the lack of detail leaves the scope and enforceability unclear. It affects markets primarily through the optics of de-escalation, potentially easing risk premiums tied to regional instability, though the short window limits the signal. What matters next is whether the halt extends beyond three days or is accompanied by any broader negotiation framework; without that, this reads as a limited, symbolic measure. The open question is whether this becomes a pattern of pauses or remains an isolated gesture.