Canada Mass School Shooting & EU Advances US Trade Deal | Daybreak Europe 2/11/2026

Watch on YouTube ↗  |  February 11, 2026 at 08:17  |  46:25  |  Bloomberg Markets
Speakers
Mark Cranfield — Cross Asset Strategist, Bloomberg
Rufaro Chiriseri — Head of Content, CryptoSlate
Bettina Orlopp — CEO, Commerzbank
Jolanda Poots-Bijl — CFO, Ahold Delhaize
Lizzy Burden — Crypto Reporter, Bloomberg News
Antonio Costa — President, European Council
Oliver Crook — Chief European Correspondent, Bloomberg

Summary

Bloomberg Daybreak Europe covers the delayed US jobs report, Asian equities at records, EU efforts to ratify a US trade deal, and corporate earnings from Commerzbank and Ahold Delhaize. Guests discuss fixed income positioning, UK gilts, US rates, and company outlooks. The show also touches on geopolitical tensions, Bitcoin holder support, and consumer spending trends.

  • Asian stocks hit records and the dollar weakened ahead of the US payrolls report.
  • EU Parliament moved closer to approving a US trade deal with steel and aluminum caveats.
  • RBC's Rufaro Chiriseri favored the belly of the UK gilt curve and saw US Treasuries range-bound.
  • Mark Cranfield said Fed cut bets support Treasuries and pressure the dollar, with equities facing regime risk.
  • Commerzbank CEO Bettina Orlopp reported strong results, a raised outlook, and a buyback.
  • Ahold Delhaize CFO Jolanda Poots-Bijl highlighted margin and volume progress and the Stop & Shop turnaround.
  • US retail sales were weak, prompting a consumer staples versus discretionary debate.
  • Bitcoin saw large-holder support but remained well below its October peak.
Ideas
Mark Cranfield Cross Asset Strategist, Bloomberg 10:45
Equities risk divergence from Treasuries ahead.
The US equity market must decide whether bad news is good or bad. For now, weaker data and more Fed cuts can support equities, but if employment and confidence data deteriorate too much, economic weakness may no longer be seen as positive and equities could diverge from Treasuries. This is a developing risk, not yet a clear directional call.
SPY MED
Mark Cranfield Cross Asset Strategist, Bloomberg 10:57
Fed cuts support Treasuries, hurt dollar.
Fed cut expectations, with markets thinking three rather than two cuts, are likely to support Treasuries and weigh on the dollar. Weak retail sales already lowered yields, and while really weak employment data could change the equity-market reaction, for now Treasuries are supported and the dollar is not.
TLT MED
Mark Cranfield Cross Asset Strategist, Bloomberg 10:57
Fed cuts support Treasuries, hurt dollar.
Fed cut expectations, with markets thinking three rather than two cuts, are likely to support Treasuries and weigh on the dollar. Weak retail sales already lowered yields, and while really weak employment data could change the equity-market reaction, for now Treasuries are supported and the dollar is not.
USD MED
Rufaro Chiriseri Head of Content, CryptoSlate 14:12
Treasuries likely range-bound until data clarity.
RBC economists do not expect Fed cuts this year because of stabilizing jobs and peak tariff-induced inflation in the second quarter, but markets are poised for weaker labor data. Expect Treasuries to stay in a 4% range; if data disappoints, yields likely trade lower within that range, and the neutral rate may be pushed down. Range-bound until clearer data and Fed policy.
TLT MED
Rufaro Chiriseri Head of Content, CryptoSlate 14:59
Prefer gilt curve belly, avoid long end.
There is room for gilts to outperform. Avoid the long end because there is insufficient compensation for duration risk; the sweet spot is the belly of the curve, which offers a steeper curve and attractive one-year return. Periods where risk premium stretches beyond target ranges are opportunities to add. The November budget and DMO skew to short-end issuance are supportive, and expected lower wage inflation and BoE easing should help.
UKGILT HIGH
Bettina Orlopp CEO, Commerzbank 27:45
Commerzbank strong with raised outlook.
2025 operating results rose strongly with good asset quality; Commerzbank is paying a higher dividend and launching a 540 million euro buyback, and has raised its 2026 profit outlook to 8.45 billion euros. Management expects German GDP growth of 0.9%, stable rates, strong January momentum, and AI-driven efficiency. Risk provisions are manageable and loan growth remains robust.
CRZBY HIGH
Jolanda Poots-Bijl CFO, Ahold Delhaize 38:21
Ahold Delhaize margins and volumes improving.
Delivering consistent and strong results while investing in prices and own brands; price investments are driving volumes, with positive US volumes close to 1% in a negative market and positive volumes in the US and Europe in 2025. The Stop & Shop transformation is on track with 67% of stores invested and favorable customer response; the company is well positioned for 2026. Dollar weakness does not directly change underlying results.
ADRNY HIGH
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This Bloomberg Markets video, published February 11, 2026, features Mark Cranfield, Rufaro Chiriseri, Bettina Orlopp, Jolanda Poots-Bijl discussing SPY, TLT, USD, UKGILT, CRZBY, ADRNY. 7 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Mark Cranfield, Rufaro Chiriseri, Bettina Orlopp, Jolanda Poots-Bijl  · Tickers: SPY, TLT, USD, UKGILT, CRZBY, ADRNY