Wall Street shares rose sharply on Tuesday as investors welcomed signs that tensions in Ukraine might ease.
The S & P 500 rose 1.6% and the tech-heavy Nasdaq rose 2.5%. US benchmark crude fell 3.6%.
Moscow said some troops near the Ukrainian border would begin to return to their bases, but US President Joe Biden said the allegations remained unconfirmed.
Bond yields rose after another indicator of inflation was higher than expected.
Yields on 10-year government bonds rose to 2.05% after the government reported that wholesale-level inflation surged 9.7% year-on-year in January.