The US military intercepted and 'neutralized' another drug trafficking vessel in the Caribbean, resulting in the deaths of three men. This marks one of many such incidents in the region recently.

The US military reported neutralizing a drug trafficking vessel in the Caribbean, resulting in three fatalities. The vessel was involved in drug smuggling operations.

The USS Truxtun collided with a support ship in the Caribbean Sea earlier this monthi. Mass Communication Specialist Seaman Ryan Colosanti/US Navy The US Navy fired the USS Truxtun commander after a ship collision during resupply. Collision highlights risks of at-sea logistics amid US naval operations. Truxtun, part of the US campaign in the Caribbean, is now in port for evaluation. The US Navy abruptly fired the commander of guided-missile destroyer USS Truxtun after his ship collided wit...

Senator Marco Rubio is heading to the Caribbean to reassert U.S. interests following recent strikes in Venezuela and threats from Iran.

The southern Caribbean region is reportedly engaging in an 'axis of energy' power play, suggesting strategic moves in the energy sector.

Juan Antonio Giner's two-volume biography reconstructs the history of the Bosch family, Catalan merchants from Empordà to the Caribbean, who leveraged discretion to build their legacy.

Bisa Hall, the ex-wife of Republican Rep. Byron Donalds, claims he used a 'fake' Caribbean accent when they first met, suggesting he did so to stand out.

Caribbean Utilities has released its full-year financial results.

US military forces boarded another sanctioned oil tanker in the Indian Ocean, tracking it from the Caribbean Sea as part of efforts to combat illicit trade.

The US military boarded an oil tanker in the Indian Ocean after tracking its journey from the Caribbean, indicating ongoing maritime security operations.

The US military today attacked another ship in the Caribbean Sea, which was allegedly transporting drugs, and killed three people, the Southern Command announced on social media.

Attack on alleged drug smugglers brings death toll from US military campaign against suspected drug boats to around 150.

The Pentagon has announced that US forces killed three suspected narco-traffickers in the Caribbean.

Powered by a 122-run partnership off just 52 balls between Hetmyer (85, 34b, 7x4, 7x6) and Powell (59, 35b, 4x4, 4x6), West Indies racked up a gargantuan 254 for six — the second-highest total in Men’s T20 World Cup history.

Shimron Hetmyer smashed a blistering 19-ball half-century at the Wankhede Stadium, setting a new West Indies record in T20 World Cup history. This remarkable feat surpassed Chris Gayle's previous record of 23 balls. Hetmyer's aggressive innings showcased the Caribbean team's fearless approach to the game.

Royal Caribbean has reportedly made a quiet decision regarding its ships, which was a direct response to customer demands.

Under immense pressure from the US government, Venezuela has reportedly begun severing close security ties with Cuba and withdrawing advisors from the Caribbean island, as announced on Saturday.

Snowbird destinations from Palm Springs to southern Florida are feeling the impact as Canadians remain hesitant about traveling to the US. Sarah Gray/Business Insider New data from Longwoods International shows Canadians are still hesitant about traveling to the US. Major snowbird destinations from Palm Springs, California, to southern Florida are feeling the impact. Canadians are opting for Europe, Mexico, and the Caribbean instead, or for domestic travel. Canadian travellers are still unhappy with President Donald Trump, and that's affecting the 2026 outlook of visitors to the US from Canada. In 2025, there was a noticeable travel chill from the US's northern neighbor, following President Donald Trump's quips about the "51st state" and the levying of hefty tariffs. A January survey of more than 1,000 Canadian prospective travelers found that they remain hesitant to travel to the US and would rather support domestic tourism, according to Longwoods International, a tourism industry market research company. According to Longwoods International, 55% of surveyed Canadian travelers report that they intend to travel to the US within the next 12 months, which remains mostly unchanged from 54% reported in October 2025. Among those who intend to make the trip, only 9% say they have already made bookings. In 2025, 4 million fewer Canadian travelers visited the US than the previous year, marking a 22% drop, according to the US Commerce Department's National Travel and Tourism Office. Seventy-three percent of Canadian respondents to the latest survey, who said they changed their 2026 travel plans to avoid the US, cited economic policies and tariffs. Other factors are also at work. More than 40% of respondents told Longwoods International that they strongly or somewhat disagree that the US is a place that values international travelers, welcomes travelers with diverse backgrounds, is a safe place to visit, and feels welcoming in general, and the number of Canadians who agree that the US feels safe to visit has been declining over the past year. Popular destinations for Canadian snowbirds, such as southern California and Florida, have been trying to woo them back. But it appears that those attempts have fallen flat as Trump continues to threaten Canada with tariffs and recently threatened to delay the opening of a bridge Canada paid for. In 2025, California's Gov. Gavin Newsom began trying to convince Canadians with targeted video campaigns that California welcomes them. Recently, heart-shaped banners featuring the Canadian flag also popped up in Palm Springs, which, according to the Los Angeles Times, is feeling a chill this winter from fewer Canadian tourists. "Sure, you-know-who is trying to stir things up back in DC, but don't let that ruin your beach plans," Newsom said in a campaign video. "California is the ultimate playground — over 2,000 miles from Washington and a world away in mindset." According to Visit California, the number of Canadian visitors to the state still fell by over 18% in 2025 compared to the year prior, slipping to 1.4 million. In 2024, Visit California showed that 1.7 million Canadians visited the state and spent around $3.7 billion. Even Disney, the happiest place on earth, is feeling the impact as international travelers skip the US. In the Walt Disney Company's first-quarter earnings report earlier in February, the company said it is facing "international visitation headwinds" at its US parks, including Disney World in Florida and Disneyland in California. Visit Florida lists Canada as the state's top source of international visitors, with around 3.4 million travelers from Canada to the state in 2024. In 2025, the state saw a 15% year-over-year drop, according to Visit Florida, with only 2.9 million visitors from Canada. Canadian airlines Air Transat and WestJet are also suspending all or some flights from Canada to the US this summer. "We saw a notable decline in transborder travel demand throughout 2025," Julia Kaiser, media relations advisor for WestJet, told Global News earlier in February. "As a result, we made timely decisions to modify our network to stay aligned with where Canadians want to go." The slowdown in trips to the US doesn't mean that Canadians are no longer traveling. Longwoods International said that 45% of Canadian travelers who changed their plans for a US trip now say they would substitute it with a domestic trip, while about a quarter of prospective travelers are looking toward Europe, Mexico, and the Caribbean. As of February 17, China also opened up visa-free entry for all Canadian citizens, allowing up to 30 days of travel for business, tourism, family visits, or transit. Read the original article on Business Insider

Three boats targeted in eastern Pacific and Caribbean as Trump continues pursuit of alleged ‘narco-terrorists’ US military officials has said American forces launched assaults on three alleged drug-smuggling boats, killing 11 in one of the deadliest days of the Trump administration’s months-long campaign against alleged traffickers. The military action on Monday brought the number of fatalities caused by US strikes to 145 since September, when Donald Trump called on American armed forces to people deemed “narco-terrorists” on small vessels. There have been 42 known strikes in notorious drug trafficking routes such as the Caribbean Sea and eastern Pacific Ocean, according to the Associated Press reported. Continue reading...

The Premier League has secured a significant 25% increase in its South American and Caribbean broadcast rights through a new £450 million deal with ESPN, running until 2031.

US Military Boards Another Oil Tanker in Indian Ocean After Tracking It From the Caribbean  The National Herald

The US military conducted a strike against an alleged drug boat in the Caribbean, resulting in the deaths of three individuals.

The US military killed three suspected drug traffickers and destroyed a boat in the Caribbean Sea as part of an anti-narcotics operation.

At least three people have died in a new US attack against a narco-boat in the Caribbean, bringing the total fatalities from such actions to 150.

Billboard has released its annual list of 15 hip-hop, Caribbean, and R&B artists to watch in 2026, highlighting versatile talents across these genres.

US Secretary of State Marco Rubio will hold talks with Caribbean leaders in Saint Kitts and Nevis on regional security, migration, and drug trafficking, following tensions with Venezuela and Cuba.

The United States attacked another boat in the Pacific, killing three crew members, bringing the total to over 110 killed in US military activities in the Caribbean and Pacific since August 2025.

When planning a multigenerational trip to the Caribbean during the busy holiday season, our family settled on an ultra-luxury cruise. David Morris We booked the least expensive suite on a Seabourn ultra-luxury cruise for about $9,000. After crunching numbers and seeing high-end resort prices, this felt reasonable for a family trip. We loved getting to see lots of new places and not worry about having to plan our meals. I paid $9,000 for what was technically the cheapest room on an ultra-luxury cruise — a price that initially felt steep until I compared it with alternatives. My family had been planning a multigenerational trip to the Caribbean during the busy period between Christmas and New Year's Eve, which is also one of the most expensive travel weeks of the year. We wanted something that felt indulgent without becoming logistically exhausting or financially disproportionate once all the extras were added up. At first, we looked at high-end beach resorts, but they were commanding eye-watering rates. I saw a few in Barbados and St. Barts charging over $4,000 a night for a room, and that price doesn't even include food, drinks, and gratuities. The costs seemed like they could really add up. As we ran the numbers, an all-inclusive cruise began to make more sense. Plus, we liked the idea of exploring Caribbean destinations we hadn't visited before without having to deal with multiple hotel check-ins, flights, and transfers. A port-heavy itinerary could allow us to sample several places while unpacking just once. So, our group settled on a 12-night Caribbean cruise aboard the Seabourn Ovation. Our family booked two rooms and spent about $20,000 on the cruise. David Morris We traveled as a group of five: my mother, my brother and sister-in-law, their 7-year-old son, and me. In total, we booked two entry-level suites — one for my mother and me, and another for my brother, sister-in-law, and their son — bringing the combined cruise fare to just over $20,000 for five people across 12 nights. This figure includes accommodations, all meals, a selection of soft drinks and alcoholic beverages, and gratuities. We saved some money on my 7-year-old nephew's fare thanks to the cruise line's third-guest-at-half-price policy. By booking through a preferred travel advisor, I also received $400 in onboard credit, plus an additional $250 referral credit (which my brother's family also received). Our cabin felt like part of a boutique hotel. David Morris Our suite measured 302 square feet, plus a 68-square-foot balcony. Its decor was pretty minimal, but it felt a bit elevated with accents of marble, dark wood, and glass. Despite being the cheapest option on the ship, this room felt more like it was part of a boutique hotel than just a standard cruise cabin. The walk-in closet was a pleasant surprise. David Morris The base-category suite felt thoughtfully laid out, with a seating area, a couch, a table, two beds, and a generously sized walk-in closet. Our clothes and bags easily fit inside with space to spare. In the other suite, a sofa bed was set up as a dedicated sleeping space for my nephew. The bathroom had dual sinks, a tub, and a compact but functional shower. David Morris The bright-white bathroom featured dual vanities, a soaking tub, and a glass-enclosed shower. My only critique was the shower size, which felt slightly tight compared to ones in some newer ships we've sailed on. Our room's minibar was stocked exactly to our preferences. David Morris We were delighted to find our room's minibar stocked with complimentary ginger beer, juices, and the spirits we requested prior to our sailing. Twice-daily housekeeping kept everything meticulously refreshed. Room aside, we were pretty happy with the ship. David Morris Since all of our meals, standard beverages, and gratuities were included in the cost of the cruise fare, we didn't have to budget or crunch numbers during our trip. We had most of our dinners in the ship's main dining room, which was so easy. It felt quite formal, and the rotating menus kept things interesting across the 12-night itinerary. Passengers also had access to The Patio, a poolside eatery with laid-back fare, and The Colonnade, a more casual spot serving buffet breakfasts and lunches, plus seated themed dinners. We also enjoyed our opportunities for specialty dining. 12 David Morris Options for specialty dining included a sushi restaurant and a Mediterranean eatery called Solis, which was a standout for me. The menu featured steak, lobster, and whole grilled fish deboned tableside. I particularly loved its post-dinner affogatos Pools, hot tubs, and quieter outdoor spaces were easy to find. 13 David Morris The ship has a large main pool surrounded by lots of loungers, though we preferred the smaller hot tubs in other areas. Quieter spots, like the hot tub at the bow with incredible views of the ocean, quickly became our favorites. My favorite area on board was The Retreat. 14 The Retreat. David Morris Located on the top sundeck, The Retreat was my favorite area on the ship. The space offered shaded cabanas, a noticeably calmer atmosphere than the main pool deck, and attentive, unhurried service. To access it, passengers had to pay an additional $150 per day on port days or $250 on sea days. Booking it on sea days felt especially worthwhile. The quiet setting made it easy to relax or catch up on a bit of remote work on my laptop without feeling out of place. Excursions cost extra, but they felt well-organized and fairly priced. 15 David Morris We mostly booked excursions through the cruise line for peace of mind. Our favorite was in Saint Lucia, where a packed day included a catamaran ride, volcano hike, mud bath, and snorkeling. The excursion ran late, but the ship waited for us as it had been booked through them. Holiday surprises added to the experience. 16 David Morris On Saint Kitts, the crew arranged a private Christmas Day beach party with grilled lobster and drinks. Later, Santa Claus arrived by Jet Ski to serve caviar and Champagne in the surf. The cruise's overall cost felt reasonable considering everything it included. 17 David Morris Ultimately, our cruise averaged out to about $333 per person, per night. That felt surprisingly fair considering how much was included in our 12-night trip. We also really enjoyed the ship's intimate size. Compared to other mega-ships carrying thousands of people, this 600-passenger vessel felt calm, navigable, and personal. We never felt overwhelmed by crowds, even on sea days. Although children aren't typically the target audience for ultra-luxury cruises, my nephew genuinely had a great time alongside the mostly older guests. His sailing also felt like a great value, considering he was charged half price as a third guest and still had his own proper bed. For a multigenerational holiday trip that combined ease, variety, and consistent service, the value ultimately justified the price. All in all, we enjoyed the trip enough to book another Seabourn voyage (at a discounted price) before disembarking. Read the original article on Business Insider

Russian President Vladimir Putin has criticized the U.S. oil blockade on Cuba, stating 'We do not accept anything like this,' as the Caribbean nation faces a worsening economic crisis.

Russia and Cuba on Wednesday slammed the US energy blockade of the Caribbean island in a show of solidarity in Moscow, where Havana's foreign minister was due to meet with President Vladimir Putin. US President Donald Trump cut off key supplies of Venezuelan oil to Cuba after ousting Venezuela's Nicolas Maduro. He has also threatened sanctions on countries that sell oil to Cuba. But what is the US president’s ultimate goal in Cuba? And if it is regime change, does he have the tools to do it? Robert Huish, associate professor in international development studies at Dalhouse University, speaks to France 24.

U.S. strikes on three alleged drug-smuggling boats in the eastern Pacific Ocean and the Caribbean Sea have resulted in the deaths of eleven individuals.

Futures, Global Markets Rise With US Markets Closed For President's Day Stocks gained, bitcoin tumbled and bonds steadied after Friday's cool CPI data reinforced expectations that the Fed will cut interest rates on multiple occasions this year. With US markets closed for the Presidents’ Day holiday and mainland China’s markets closed for Lunar New Year holidays, trading was muted on Monday. As of 9:00am ET, futures on the S&P 500 added 0.4% and Europe’s Stoxx 600 index rose 0.4% as banking shares rebounded from a sharp decline last week. German bunds and Treasury futures were steady after US yields touched the lowest since December on Friday. The path of US interest rates remains in focus following Friday’s slower-than-expected US inflation print as traders fully price a Fed cut in July and the strong chance of a move in June.   “The backdrop for equities is positive post CPI,” said Andrea Gabellone, head of global equities at KBC Securities. At the same time, there could be “more dispersion ahead as sentiment around key AI-exposed sectors is still very critical,” he added.  That sentiment was echoed by other strategists seeking to distinguish between AI losers and winners. A JPMorgan Chase & Co. team led by Mislav Matejka urged caution on stocks at risk of AI-driven “cannibalization,” including software, business services and media companies. Meanwhile, banks are developing baskets to capitalize on the divergence: as we first reported last Thursday, Goldman launched a new basket of software stocks that goes long firms that will benefit from AI adoption, while shorting the companies whose workflows could be replaced. With AI disruption rippling through markets, a lot will come down to earnings resilience, in particular in the US.  “When you look at the current earnings season, the companies are showing 13% of growth,” Nataliia Lipikhina, head of EMEA equity strategy at JPMorgan, told Bloomberg TV. “Overall, this is the reason why we continue to be positive on the S&P.” Later this week, traders will be watching for ADP private payrolls numbers on Tuesday and the minutes from the Fed’s January meeting on Wednesday for a fresh read on the economy. European stocks gained with bank shares rebounding, after posting their biggest weekly decline since April on worries about disruption from artificial intelligence. The basic resources sector lags, with Norsk Hydro among Europe’s worst performers as both Goldman Sachs and RBC downgrade the stock. Stoxx 600 rises 0.4% to 620.26 with 253 members down, 336 up, and 11 unchanged. Here are some of the biggest movers on Monday:  NatWest shares rise as much as 4%, the most since October, as Citi analyst Andrew Coombs raises his price target on the UK bank to a Street-high. Seraphim Space shares rise as much as 9.2%, briefly hitting a new all-time high, after the space tech investment firm said the valuations of its four largest holdings increased over the final months of 2025. AECI shares rally as much as 6.1%, the most since July, after the South African commercial-explosives maker shared improved 2025 headline earnings per share guidance. Orsted shares rise as much as 3.8% after analysts at Kepler raise the recommendation to buy from hold over the Danish renewable energy firm’s outlook, despite ongoing uncertainty for the industry in the US. Norsk Hydro shares fall as much as 4.4%, extending Friday’s 5.9% earnings-triggered drop, after being downgraded at Goldman Sachs and RBC over disappointments and pricing pressures in the Norwegian aluminum company’s downstream business. Galderma shares slip as much as 2.2% after naming Luigi La Corte as its new chief financial officer following the news back in July that Thomas Dittrich was departing. Pinewood Technologies shares tumble as much as 32%, the most since April 2024, after Apax Partners said on Friday it will not proceed with a possible cash offer for the car dealership software provider. FlatexDEGIRO shares drop as much as 7.2% after BNP Paribas downgraded the online brokerage firm to neutral from outperform, saying the price reflects too much optimism about its market position in Germany. Maurel & Prom shares slump as much as 12%, pulling back after ending last week at a 2015-high, after announcing it is not currently authorized to resume oil and gas operations in Venezuela. Barratt Redrow shares fall as much as 3.7%, leading a drop in British homebuilders after Rightmove said house prices are stalling. Asian stocks slipped for a second day, led by declines in Japan as traders booked profits after last week’s post-election rally. Several markets were closed or held shortened trading sessions for the Lunar New Year holiday. The MSCI Asia Pacific Index was down 0.1%. Japan’s Topix Index fell 0.8%, with Mizuho Financial Group Inc. and Toyota Motor Corp. among the companies contributing to the index’s losses.In Hong Kong, AI model developer Minimax Group Inc. surged as much as 30% to more than four times its original listing price, while competitor Knowledge Atlas JSC Ltd. ended 4.7% higher. The market will be closed until Thursday. As investors across the region begin to reevaluate their bets on its artificial-intelligence-driven rally, traders in Japan cashed in gains driven by expectations of Prime Minister Sanae Takaichi’s proactive spending policies last week.Trading in Singapore ended early Monday and will be shut until Wednesday. Equity markets in mainland China, South Korea, Indonesia and Vietnam were closed.  In FX, the yen is the notable mover in currencies, weakening 0.5% against the dollar and pushing USD/JPY back above 153. The offshore yuan is one of the better performers against the greenback. The Bloomberg Dollar Spot Index rises 0.1%. There is no cash trading in Treasuries due to the Presidents’ Day holiday. European government bonds are little changed In commdities, gold dipped below $5,000 an ounce, as traders booked profits from a gain in the previous session. Bitcoin tried anf ailed to stage a modest rebound; it last traded around $68,275 after posting its fourth consecutive weekly loss, with the cryptocurrency struggling to find clear direction as a weekend rally fizzled once the momentum ignition algos emerged.  WTI crude futures tread water near $62.90 a barrel.  Top Headlines President Trump said there will be voter ID rules in the mid-term elections this year, whether Congress approves it or not, and they will present a legal argument in an Executive Order. Furthermore, Trump said he has searched the depths of legal arguments not yet articulated nor vetted on this subject, and they will be presenting an irrefutable one in the very near future. Iran says potential energy, mining and aircraft deals on table in talks with US: RTRS Pentagon threatened to cut its ties with Anthropic over the company’s insistence that some limitations are kept on how the military uses its AI models: RTRS UK eyes rapid ban on social media for under 16s, curbs to AI chatbots: RTRS Rampant AI Demand for Memory Is Fueling a Growing Chip Crisis: BBG Warner Bros. Weighs Reopening Sale Negotiations With Paramount: BBG Companies Are Replacing CEOs in Record Numbers—and They’re Getting Younger: WSJ Europe aims to rely less on US defence after Trump's Greenland push: RTRS DOJ Tells Lawmakers Epstein File Redactions Complied With LawL BBG For College Applicants, Pressure to Make Summers Count Has Gotten Even Worse: WSJ Fed's Goolsbee (2027 voter) said on Friday that they are still seeing pretty high services inflation, and he hopes they have seen the peak impact of tariffs, while he added that the job market has been steady, with only modest cooling.  The Break Is Over. Companies Are Jacking Up Prices Again: WSJ Trade/Tariffs USTR Greer said the US and Ecuador expect to sign a trade agreement in the coming weeks. China will waive import value-added taxes on selected seeds, genetic resources, and police dogs through to 2030 to increase agricultural competitiveness and breeding capacity. It was also reported that China will grant zero-tariff access to 53 African nations from May 1st, according to Bloomberg. Chinese Foreign Minister Wang Yi told his French and German counterparts that China and the EU are partners, not rivals, while he added that China and the EU should manage differences, deepen practical cooperation and work together on global challenges. A more detailed look at global markets courtesy of Newsquawk APAC stocks began the week in the green but with gains limited following a lack of major fresh catalysts from over the weekend and amid thinned conditions owing to holiday closures in the region and North America. ASX 200 traded marginally higher with upside led by tech, although gains are capped by underperformance in the utilities, mining, materials and resources sectors, while participants also digested a slew of earnings releases. Nikkei 225 traded indecisively with the index constrained by disappointing Japanese preliminary Q4 GDP data, which showed the economy returned to growth but failed to meet expectations with GDP Q/Q at 0.1% (exp. 0.4%), and annualised GDP at 0.2% (exp. 1.6%). Hang Seng finished higher in a shortened trading session on Chinese New Year's Eve but with upside limited by tech weakness amid some confusion after the Pentagon added several companies including Baidu, Cosco, BYD, Huawei, Nio, SMIC, Tencent, and more to a list of Chinese firms aiding the military on Friday, but then withdrew the updated list shortly after it was posted. Furthermore, price action was also restricted by the closure of mainland markets and the absence of stock connect flows, which will remain shut for more than a week. US equity futures kept afloat in quiet trade amid the absence of drivers and participants. European equity futures indicate a mildly positive cash market open with Euro Stoxx 50 futures up 0.1% after the cash market closed with losses of 0.4% on Friday. Asian Headlines Chinese President Xi called for the anchoring of economic growth around domestic demand as its main driver, in a speech during a key policy meeting late last year that was released on Sunday. China is to establish a permanent financial support framework to promote rural revitalisation and prevent a slide back into poverty, which represents a shift from transitional aid to long-term support. China’s market regulator summoned major online platform companies on Friday, including Alibaba, Douyin and Meituan, while it directed them to comply with laws and regulations, and rein in promotional practices, according to Bloomberg. US Secretary of State Rubio and Japanese Foreign Minister Motegi reaffirmed their commitment to deepen bilateral ties. Disney (DIS) sent a ‘cease and desist’ letter to ByteDance over Seedance 2.0 and alleged that ByteDance has been infringing on its IP to train and develop an AI video generation model without compensation, according to Axios. It was later reported that ByteDance said it would curb its AI video app following Disney's legal threats, according to the BBC. RBI tightened rules for loans provided to brokers and proprietary firms in an effort to reduce market speculation FX DXY eked slight gains in rangebound trade after a lack of major catalysts and with US participants away on Monday. EUR/USD was little changed amid the absence of any major macro catalysts and with light newsflow from the bloc, while comments from ECB President Lagarde and news that the ECB is to make its repo backstop available to other central banks across the world, did little to spur price action. GBP/USD held on to most of Friday's spoils but with price action contained by resistance around 1.3650 and following comments from BoE's Mann that the UK economy is sluggish and tepid, with consumers spending less due to being scarred by high inflation. USD/JPY edged higher and returned to above the 153.00 level in the aftermath of the weaker-than-expected preliminary Q4 GDP data for Japan. Antipodeans were mixed with little fresh macro drivers and a lack of tier-1 data from either side of the Tasman. Fixed Income 10yr UST futures traded little changed and held on to last week's spoils after returning above the 113.00 level in the aftermath of the softer US inflation data, while price action was contained to start the week by the closure of US cash markets for Washington's Birthday. Bund futures lacked demand in the absence of any major catalysts and with light newsflow from the bloc. 10yr JGB futures were marginally higher following disappointing preliminary GDP data for Q4, but with gains limited after failing to sustain a brief reclaim of the 132.00 level. Commodities Crude futures were rangebound amid light energy-specific newsflow from over the weekend and after last Friday's indecisive performance, where attention was on a source report that noted OPEC+ is leaning towards resuming oil output hikes from April, but with no decision made. Slovak PM Fico said he has information that the Druzhba pipeline has been fixed after damage in Ukraine, although he believes that supplies to Hungary and Slovakia have become a part of political blackmail. Spot gold took a breather after edging higher in the aftermath of the recent softer-than-expected US inflation data, with price action also contained by the holiday closures across Asia and North America. Copper futures were subdued, with their largest buyer away for more than a week due to the Chinese New Year/Spring Festival holiday. Texas venture-backed startup Hertha Metal vowed mass production of steel with 25% cost savings, which could reduce US reliance on imports. Geopolitics: Middle East US military is preparing for potential operations against Iran that could last for weeks if US President Trump orders an attack and the US fully expects Iran to retaliate, according to sources cited by Reuters. US President Trump told Israeli PM Netanyahu during a meeting in December that he would support Israel striking Iran’s ballistic missile program if the US and Iran are not able to reach a deal, according to CBS. Iran confirmed that indirect talks between the US and Iran will resume in Geneva on Tuesday under the mediation of Oman, while Iranian Foreign Minister Araghchi left for Geneva on Sunday. Iranian diplomat said Iran is open to nuclear deal compromises if the US discusses lifting sanctions, while it was also reported that Iran said potential energy, mining and aircraft deals are on the table in talks with the US. Israel’s cabinet approved the proposal to register West Bank lands as ‘state property’, while Palestinians condemned the ‘de facto annexation’ which Peace Now said likely amounts to a ‘mega land grab’. Geopolitics: Ukraine US President Trump said on Friday that Ukrainian President Zelensky is going to have to get moving and that Russia wants to get a deal. US Secretary of State Rubio said they don’t know if Russia is serious about finding an end to the war in Ukraine and will continue to test it, while it was reported that he met with Ukrainian President Zelensky on security and deepening defence and economic partnerships. Ukrainian drones targeted Russia’s Taman seaport and fuel tanks in the Black Sea region. UK and European allies were reported on Friday to be weighing seizing Russian shadow fleet ships and tightening curbs on Russia's economy. French Foreign Minister Barrot said some G7 nations have expressed a willingness to proceed with a maritime services ban on Russian oil, which they hope to include in the 20th sanctions package that they are actively preparing. Geopolitics: Other European Commission President von der Leyen said that they face the very distinct threat of outside forces trying to weaken their union, while she added that mutual defence is not an optional task for the European Union; it is an obligation within their own treaty, and it is their collective commitment to stand by each other in case of aggression. Pentagon said the US military struck an alleged drug cartel boat in the Caribbean, which killed three people. DB's Jim Reid concludes the overnigt wrap I hope you all had a good weekend. To stay in Winter Olympics mood the family watched "Cool Runnings" last night. I haven't seen it for 32 years. Please don't tell anyone but I had a few tears in my eyes at the end. I blamed it on the hay fever that has now started. There will be a lot of tears out there in markets for other reasons at the moment. Just two weeks ago, the idea of AI-driven disruption still felt like an abstract, almost academic thought experiment—something we could safely revisit once we had clearer evidence of how AI would be deployed and integrated across the economy. Fast forward 14 days, and markets have wiped out well over a trillion dollars of global equity value on the fear that AI could fundamentally reshape business models and compress profitability across a wide range of industries, including software, legal services, IT consulting, wealth management, logistics, insurance, real estate brokerage and commercial real estate. Some of the sell off in “old economy” sectors feels overdone to me. But as I argued in our 2026 World Outlook back in November, the real challenge is that even by the end of this year we still won’t have enough evidence to identify the structural winners and losers with confidence. That leaves plenty of room for investors’ imaginations—both optimistic and pessimistic—to run wild. As such big sentiment swings will continue to be the order of the day. My instinct is that the reaction in things like commercial real estate, for example, has been particularly exaggerated. Markets seem to be extrapolating a scenario in which vast numbers of white collar workers are made redundant almost overnight, leading to a dramatic collapse in office demand. If that view turns out to be correct, we’ll be facing societal challenges far larger than anything currently being priced into equities. While trying to catch a falling knife may be too risky for many, beginning to cushion the descent could be sensible in many old economy sectors. Markets can’t sustain a disruption narrative across multiple sectors for months or quarters without concrete evidence — and that evidence is likely to take much longer to emerge. Fascinating times. As for this week, today is a US holiday but inflation will remain in the spotlight at a global level after Friday's slightly softer US CPI which helped contribute to a decent rates rally to end the week. Prints are due in the US (PCE - Friday), the UK (Wednesday), Canada (Tuesday) and Japan (Friday). Other economic highlights will include the FOMC minutes (Wednesday), Q4 GDP in the US (Friday), as well as the global flash PMIs (Friday). Earnings reports will feature Walmart (Thursday), Nestlé (Thursday) and BHP (today). It's the earnings calm before next week's Nvidia storm. In the US, this holiday shortened week (President's Day today) features a data calendar dominated by releases that were pushed back by last year’s government shutdown. The most consequential updates will land on Friday, when the advance estimate of Q4 GDP arrives alongside December’s personal income and consumption figures—key inputs for shaping expectations for the early part of this year. For markets assessing the underlying pulse of demand heading into 2026, private final sales to domestic purchasers (PFDP) will carry more weight than the headline GDP print. This indicator—closely monitored by Fed Chair Powell—is expected by our economists to slow to 2.0% from 2.9% in Q3, though risks appear tilted upward. One swing factor: Wednesday’s durable goods report, where modest gains outside of transportation could soften the deceleration. On the consumer front, real PCE growth is expected to cool to 2.5% after two quarters of outsized strength but should still signal ample momentum heading into the new year. Friday’s income and spending report will also offer the latest reading on core PCE, the Fed’s preferred inflation gauge. Our economists expect another 0.4% monthly increase for December, lifting the year over year rate to 2.9%. Updated seasonal factors from last week’s CPI release suggest some mild downward pressure on inflation trends in the second half of 2025. Still, January’s CPI data, although softer than we anticipated, do not translate into equivalent relief for core PCE—in fact, our team currently sees another 0.4% gain for January's release (delayed until March 13th). Depending on the strength of medical services, airfare, and portfolio management components in the upcoming PPI report, a 0.5% monthly rise cannot be ruled out, which would push the year over year rate toward 3.1%. So don't get too excited about the softer CPI last week and the huge rates rally. Additional releases this week will help clarify whether recent severe winter weather has disrupted factory sector activity. January industrial production, due Wednesday, should benefit from a jump in utility output, while weather effects may weigh on the Empire State Survey tomorrow and the Philadelphia Fed survey on Thursday. Labor market data will also be in focus, particularly Thursday’s jobless claims, which line up with the survey week for the February employment report. As our economists have pointed out, private nonfarm job gains have averaged 103k over the past three months, slightly above the pace at this point in 2025 and matching the start of 2024. See their latest US employment chartbook here. This week will also feature a dense lineup of Federal Reserve speakers which you can see alongside all the key global data in the day-by-day week ahead calendar at the end as usual. Moving away from the US, inflation will also be in focus in Japan (Friday) and Canada (tomorrow). For the former, our Chief Japan Economist sees the January nationwide CPI showing a slowdown in both core CPI inflation ex. fresh food to 2.1% YoY (+2.4% in December) and core-core CPI inflation ex. fresh food and energy to 2.7% (+2.9%). Also important will be the global flash PMIs due on Friday as a health check on global growth. In Europe, the spotlight will be on UK inflation (Wednesday), with labour market data due tomorrow and retail sales on Friday. Our UK economist expects headline CPI inflation to drop to 3.0% YoY (3.4% in December) and core CPI also landing at 3.0% YoY (3.2% YoY). See more in his full preview here. In terms of key rate decisions, the RBNZ are expected to remain on hold on Wednesday. Finally, the Munich Security Conference wrapped up over the weekend, where key topics included Ukraine, Russia, and the fate of Greenland. And while US Secretary of State Marco Rubio’s speech was nothing like Vice President JD Vance’s at last year’s conference, which triggered a “wake-up” call for European leaders, Rubio reiterated the administration’s view that Europe needed to leave behind its focus on energy policies, trade and mass migration. Recapping last week now, the tech volatility that has dogged markets since the start of the month broadened into a far more indiscriminate sell-off. The trough came on Thursday, marked by a sharp drop in software stocks, but the weakness extended well beyond tech. Companies across wealth management, real estate and financials suffered double digit declines, underscoring how widespread the pullback has become. Market breadth confirmed this shift as the equal weighted S&P 500 fell -1.37% on Thursday, though it managed to finish the week up +0.29% (+1.04% on Friday). Ultimately, the sell-off left the major US indices on the back foot: the S&P 500 slipped -1.39% (+0.05% on Friday), the Nasdaq lost -2.10% (-0.22% on Friday), and the Magnificent 7 slid -3.24% (-1.11% on Friday). Although the AI scare dominated sentiment, a heavy slate of US data also shaped the market narrative. Early in the week, softer prints—including flat December retail sales, a dovish Q4 Employment Cost Index, and slower Q4 growth expectations from the Atlanta Fed—pushed Treasury yields lower across the curve. That picture shifted midweek after a stronger than expected January jobs report, which delivered the largest gain in nonfarm payrolls (+130k vs. +65k expected) since December 2024 and reinforced confidence that the US economy carried solid momentum into 2026. Then on Friday, January CPI came in below expectations, adding another dovish note. Although the data offered mixed signals at times, the overall takeaway was sufficiently dovish for traders to increase the number of expected rate cuts by December 2026 to 63.4bps (+7.7bps on the week). This helped drive the largest weekly drop in the 10 year Treasury yield since August 2025, down -15.8bps (-5.0bps on Friday) to 4.05%. The 2 year yield also moved sharply lower, falling -8.9bps to 3.41% (-4.8bps on Friday), its lowest level since 2022. European markets, meanwhile, delivered a comparatively resilient performance. The STOXX 600 (+0.09%, -0.13% Friday), DAX (+0.78%, +0.25% Friday) and FTSE 100 (+0.74%, +0.42% Friday) all posted modest gains for the week. European sovereign bonds rallied as well, with the 10 year bund yield dropping -8.7bps—its steepest weekly decline since April 2025. That move was outpaced by gilts, which fell -9.8bps (-3.6bps on Friday) despite a sharp early week sell-off triggered by renewed questions surrounding Prime Minister Keir Starmer’s position. Elsewhere, performance was mixed. Brent crude edged down -0.44% (+0.34% on Friday), while gold extended its upward run, rising +1.56% (+2.43% on Friday). Will London’s half term week finally give us a quiet week in 2026? You’d probably have to guess at ‘unlikely’. Tyler Durden Mon, 02/16/2026 - 09:40

A new US boat strike in the Caribbean resulted in three deaths, following similar attacks targeting suspected drug smuggling boats in the Pacific Ocean since early November.