James Paulsen: Ukraine

Ukraine: The Emerging Markets Index added 0.7 percent to 1,009.22. The Micex Index of equities extended a two-day advance to 1.4 percent in Moscow, the ruble jumped the most among 31 global currencies tracked by and Ukraines hryvnia posted the longest rally since August. Indias 10-year sovereign bonds climbed the most in four months after the government auctioned debt at lower yields than investors estimated, according to Bloomberg. Headlines from Ukraine are going to continue to bring volatility, but I dont expect Ukraine to become a market event unless there is true Western military action, James Paulsen , the Minneapolis-based chief investment strategist at Wells Capital Management, which oversees about $360 billion in assets, said by phone. If we stick with economic sanctions, I dont think its a big event. It fades away. ETF Gains Emerging-market stocks rose for a second day after diplomatic leaders reached a deal aimed at defusing the crisis in Ukraine . Russias ruble posted the biggest advance among the worlds major currencies. U.S. Secretary of State John Kerry and Catherine Ashton , the European Unions foreign-policy chief, gathered in Geneva today with foreign ministers from Russia and Ukraine for more than six hours. Their agreement called for all illegal armed groups in Ukraine to be disarmed, all seized buildings to be returned to their legitimate owners and occupied public places to be vacated. Kerry said that unless the Russian government starts acting on the accord, sanctions will follow. (news.financializer.com). As reported in the news.