End of Day Summary – 2/12/2026

Intraday News  •  February 12, 2026
Edited by Kristen Radosh & Kylie Leverenz

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US Treasuries

UST 10s on Thursday closed at 4.10%. 10s have traded in a range of 4.10% / 4.28% for the month

–1st weekly support at 4.28% / 4.295%
–2nd weekly support at 4.315% / 4.325%
—->1st monthly support at 4.325% / 4.35%

–1st weekly resistance at 4.135% / 4.145%. This zone has held for the last 11 weeks   FRIDAY’S CLOSE WILL BE IMPORTANT
—->1st monthly resistance at 4.12% / 4.14% has also held for the last 11  months.

Intraday Commentary From Jim Bianco

IGV is the iShares Software Tech Index.  Right now, it is the center of the universe on the AI-related sell-off.

 

Vanda Research uses a proprietary model to calculate how much of this ETF is bought by retail versus non-retail investors. Vanda does not publicly disclose the full granular details of this model (as it’s part of their commercial data product), but it’s based on real-time market data feeds, trade-level analysis, and adjustments to filter retail participation effectively.

Vanda is perceived as being credible.

——-

We all know the reflexive response from retail investors: buy every dip, every sell-off. Don’t ask about the circumstances; just jump on anything that’s down a lot in a short period.

 

Why? Because it always works.

 

But their reflexive response to buying the dip of the current software sell-off, as this chart shows, might be a new record extreme. 

 

Remember we are moving from “prompt and response” AI, to two Agentic AI, or AI agents.

In simple terms, this means AI is evolving from something you ask questions of and get answers from, to something you instruct to do things for you. In other words, it’s able to create software To execute commands on your computer, and the price of creating that software is crashing to zero.

This is a huge disruption for legacy software that was very expensive to build, which is why they are suffering.
—-
But there’s another type of software, programmable money, otherwise known as crypto.

This chart overlays Bitcoin (blue) with the software index (orange). They are the same thing.

Nate b. Jones is a Silicon Valley Guru. He lives in Seattle because his last job was at Amazon. This is why he’s wears Seahawks jerseys in all his videos.

Here is today’s video. He ‘s made some mind-blowing statements.

  • AI is evolving at hyper speed; in fact, it’s evolving so fast that if you asked an AI prompt, “How do I use AI?” It will give you instructions from a month or two ago. In other words, it can’t even keep itself up to date.
He gave two wild examples in this video.
  • One guy wanted to buy a car, and he empowered an AI agent to negotiate on his behalf via text and email with the (human) dealer, and it got him $ 4,200 off the car he paid $56,000 for.
  • Another person put together an AI agent and asked it to make him a dinner reservation. When it could not do it on OpenTable, it automatically downloaded a text-to-speech app, called the restaurant, and made the reservation (with humans) on his behalf.
What is happening is truly incredible!

And when I say it’s moving at hyper speed, I mean every hour… China’s ByteDance’s Seedance 2.0, launched TODAY, February 12, 2026

All you have to do is type in a few sentences, and it produces cinema-quality videos, and there’s already panic in Hollywood.

This site put together some examples. Look at the quality of these AI-generated videos.

So, why is the stock market struggling, and software and “programmable money” suffering?

Everything is about to change!

Spot Silver Prices … “cracked” 10% lower in the last three hours.

In the News 

dw.com: AI-fueled chip shortage is driving up smartphone prices

Reuters: Americans ditch premium rims for entry-level cars as affordability takes a hit

Redfin News: Pending Home Sales Decline in All But 5 Major U.S. Metros

Arbor Data Science: Long Live the Steepener by Sam Rines

Upcoming US Treasury Supply

Tentative Schedule of Treasury Buyback Operations
 

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