Global Martian atmospheric results derived from the infrared imaging spectrometer ISM flown aboard the Phobos 2 Soviet spacecraft are presented. Over low altitude regions the expected CO mixing ratio of (8 +/- 3) x 10(-4) is measured. Variations of the 2.35-micrometers feature are inconsistent with this value over the Great Martian Volcanoes. If the 2.35-micrometers band is entirely attributable to carbon monoxide, the CO mixing ratio is typically depleted by a factor of 3 over these high altitude areas. Orography should play a major role in the existence of this CO "hole." If, however, these spectral variations at 2.35 micrometers are due to the surface composition, the fraction of the surface covered by the responsible mineral must smoothly decrease as the surface elevation decreases. This phenomenon implies a strong interaction between the surface and the atmosphere for the Great Martian Volcanoes. Diurnal behavior and latitudinal variations of water vapor are globally consistent with Viking measurements. During the Phobos observations, the water vapor amounts over the bright equatorial regions range around 11 pr-micrometers during the day. These amounts are slightly larger than those inferred from 1976 to 1979. The lack of global dust storms during 1988-1989 could explain the enhancement of H2O in the atmosphere.