Monday, February 9, 2026

Reining in

Good morning. China urges banks to curb their Treasuries exposure, while Goldman tells traders to buckle up for the week ahead. And congratu
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Good morning. China urges banks to curb their Treasuries exposure, while Goldman tells traders to buckle up for the week ahead. And congratulations to the 12s in Seattle and beyond. Listen to the day's top stories.

— Alexandria Arnold

Markets Snapshot
S&P 500 Futures 6,935.5 -0.25%
Nasdaq Futures 25,047.25 -0.46%
Bloomberg Dollar Spot Index 1,187.41 -0.27%
Market data as of 07:00 am EST. View or Create your Watchlist
Market data may be delayed depending on provider agreements.

Chinese regulators have advised financial institutions to rein in their holdings of US Treasuries, citing concerns over concentration risks and market volatility, according to people familiar. The move was framed around diversifying risk, but geopolitical tensions remain—the latest source of which may be the sentencing of pro-democracy former media mogul Jimmy Lai to 20 years in prison.

Iranian President Masoud Pezeshkian described nuclear talks with the US as "a step forward," while Donald Trump said that another meeting was set for this week. Israeli Prime Minister Benjamin Netanyahu will head to Washington to meet Trump on Wednesday to push him to impose limits on Tehran's missiles and proxies.

In the UK, Prime Minister Keir Starmer is facing huge pressure on his leadership. A crisis over the appointment of Peter Mandelson as ambassador to the US, despite ties to Jeffrey Epstein, is intensifying and now Starmer's top aide has quit, along with his head of communications.

How the Debt Problem is Fueling the Gold Market

Turning to corporate news: Apple is set to kick off a product blitz this year with the iPhone 17e, updated iPads and fresh Macs. And Apollo Global Management is teaming up with Schroders to develop funds for wealth and pension clients.

And looking ahead, Goldman's traders say "buckle up" for choppy stocks trading this week as algorithmic funds sell. Don't forget the January jobs report comes out Wednesday, having been delayed by the partial government shutdown. And inflation data is due Friday, putting two of the most consequential data snapshots unusually close together. 

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Deep Dive: Private School Gets Pricy

The Dalton School in New York Photographer: Michael Nagle

The top private schools in New York City plan to charge more than $70,000 this year for tuition, an amount exceeding that of many elite colleges.

  • The Spence School, The Dalton School and The Nightingale-Bamford School on the Upper East Side are among at least seven where fees now exceed that threshold, according to school disclosures and Bloomberg reporting.
  • Prices have risen dramatically in the past decade, up from a median of $39,900 in 2014. 
  • Schools largely explain the increases by pointing to rising expenditures and the escalating costs of living in New York, which requires higher salaries to retain top teachers and staff.

The Big Take

Unfinished homes dot Gator Circle, a neighborhood in Cape Coral, Florida Photographer: Brian Tietz for Bloomberg Markets


Private credit made home flipping look easy. In places like Florida, the risks are finally surfacing.

Big Take Podcast
Pro Bettors Flock to Prediction Markets

Opinion

The use of AI models like Anthropic's Claude Opus 4.6 may make investors more likely to follow the crowd, Parmy Olson writes. 

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A US Tech Detox Offers a $264 Billion Opportunity for the EU
Allison Schrager
Finance 101 Still Explains (Almost) Everything

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Before You Go

Photographer: Chris Graythen/Getty Images North America

The Seattle Seahawks beat the New England Patriots 29-13 on Sunday to win the franchise's second Super Bowl and redeem themselves in a rematch of their last championship appearance. Just as joyous was Bad Bunny's visually stunning halftime performance, featuring guest appearances from Lady Gaga, Ricky Martin and others.

One More
Crypto Exchange to Reimburse Some Users After $40 Billion Error

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