Ukraine-US-Europe Miami Talks End Early, Second Day Cancelled

The gap between Witkoff's characterization of the talks as constructive and the delegation's early exit with the next day scrapped is the real signal: a format that both sides publicly endorsed has, at least in this round, produced no durable sitting. For markets, the read-through is that a near-term de-escalation path remains unanchored, keeping the risk premium attached to the conflict intact. Whether the Miami channel is reconvened, and on what terms, is the open question worth tracking.