Friday, February 20, 2026

Of royals and aliens

Bloomberg Morning Briefing Americas
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Good morning. From cracks in the British monarchy to aliens in the US, market risks abound. Maybe it's time to disappear to a desert island with a bottle of your favorite malt. Listen to the day's top stories.

— Angela Cullen

Markets Snapshot
S&P 500 Index Futures 6,869.5 -0.11%
Nasdaq 100 Index Futures 24,830.25 -0.11%
Bloomberg Dollar Spot Index 1,190.84 -0.00%
Market data as of 07:06 am EST. View or Create your Watchlist
Market data may be delayed depending on provider agreements.

From the potential collapse of the British monarchy to a possible US strike on Iran and even talk of an alien invasion (yes, you read that right), markets have plenty to digest. Stock futures wavered as the US military deployed aircraft carriers and fighter jets to the Middle East. Meanwhile, Blue Owl was said to sell about $1.4 billion in private loans to major pension funds and its own insurer to help meet investor payouts, highlighting the risks facing retail investors drawn into the booming private-credit market.

About those aliens: Donald Trump said he doesn't know "if they're real or not," but he directed federal agencies to release files that discuss extraterrestrial life and unexplained aerial phenomena. And all because Barack Obama brought it up on a recent podcast. Trump said the move could get Obama "out of trouble," after accusing him of giving away classified information. Trump's name will soon appear on a flying object of a different kind after Florida's Republican-led legislature approved a bill to rename Palm Beach's airport after the president.

Andrew Mountbatten-Windsor Photographer: Pool/Getty Images Europe

Until this week, it had been nearly four centuries since the arrest of a senior British royal. While now out of police custody, Andrew Mountbatten-Windsor's ties to Jeffrey Epstein have heaped embarrassment on his brother, King Charles III. Here's what it all means as the UK's most powerful family tries to outrun a litany of setbacks. Meanwhile, Epstein's estate agreed to pay as much as $35 million to resolve outstanding legal claims of his victims who haven't already reached settlements.

The Trump administration is planning a new Peace Corps initiative to send US science and math graduates abroad, aiming to deepen other countries' reliance on American technology and curb adoption of Chinese alternatives. The program would give the six-decade-old agency a renewed mission for a tech-driven era, an official said. The geopolitical rivalry was on display this week, when US and Chinese fighter jets briefly faced off over waters near the Korean Peninsula, a rare confrontation in that area between the two superpowers.

Business
She Bet on K-Pop. Netflix Got Its Biggest Movie Ever

Taiwan is winning as Trump's tariffs reshape trade flows and the global boom in artificial intelligence fuels demand for tech products. The US imported more from Taiwan than from China for the first time in decades in December, with shipments from the island more than doubling to $24.7 billion, while purchases of Chinese goods plunged more than 44%.

 

Deep Dive: Teaching Gen Alpha Money Matters

Illustration: Shira Inbar

Most Gen Alpha kids have more access to money and control over how it's spent than their parents did at their age, selling things online and creating content, streaming or influencing. They're also building wealth (or at least banking cash) in far more 2026 ways, all of which raises the stakes for educating them about their finances.

  • Many parents aren't exactly sure how to talk to their children about modern finance in a world increasingly driven by digital payments, cryptocurrencies and buy now, pay later plans. But those discussions don't have to be sophisticated or geared toward raising the next Warren Buffett.
  • For the latest in our Gen Alpha series, we spoke to experts and advisers, who say the fundamentals of budgeting and decision-making remain unchanged from when you yourself learned the ropes.
  • And here's our investor's guide to the generation that's rapidly emerging as a global economic and cultural force.

The Big Take

Photo Illustration: Mel Haasch/Bloomberg

Cybersecurity is an arms race requiring constant investment, especially for VPNs that shield private networks from the internet. The case of Ivanti—whose software is used by the US military, the Federal Reserve, NASA and major banks—highlights the risks when private equity moves in. Burdened with billions in debt, it repeatedly failed to stop China-backed breaches, prompting its biggest clients to reconsider their approach.

Big Take Podcast
How to Gut a Federal Agency

Opinion

Photographer: JOSH EDELSON/AFP

AI cannot by itself improve America's economic and demographic growth, writes Allison Schrager. That will require a strategy to improve our human capital: better education as well as immigration that prioritizes highly skilled migrants.

More Opinions
Thomas Black
This AI Electricity Stopgap Needs a Big Caveat
The Editors
Can 'Brand New Air Traffic Control' Fix the FAA's Old Problems?
Howard Chua-Eoan
When Bad Things Happen to Good Restaurants

Play Alphadots!

Our daily word puzzle with a plot twist.

alphadots

Today's clue is: Pitcher's equipment

Play now!

Before You Go

Desert island whiskey Source: Vendors

As the brutal winter begins its slow retreat, why not usher your minds to warmer climes with a thought experiment from our Top Shelf friends: desert island whiskey. What would your bottle be? Tip: Michter's is back with a fifth rendition of its Celebration Sour Mash for a neat $6,000. Alternatively, a 10-year-old Arran shouldn't burn your throat, or your wallet.

A Few More
Can AI Tell Us How Much to Pay for Art?
Can London's Korean Cafes Ride the K-Pop Wave?
The $24 Billion Fortunes Fueling Japan's Soft-Power Riches

Bloomberg House Miami: For the first time, Bloomberg House goes beyond Davos, arriving on April 29-30 at the Formula 1 Miami Grand Prix. Join global leaders for compelling conversations and exclusive gatherings across finance, entertainment, technology and sports. Learn more.

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