End of Day Summary – 2/23/2026

Intraday News Samples  •  February 23, 2026

Download this Report to Print

US Treasuries

  • UST 10s on Monday closed at 4.03%. 
  • 1st weekly resist at 4.015% / 4.03%                  62% to hold on the week
    • 2nd weekly resist at 3.97% / 3.985%       50%to hold on the week
  • –> 1st monthly resist at 4.12% / 4.14%            this zone has held for last 11 months
  • –> 2nd monthly resist at 4.03% / 4.055%        
  • 1st weekly support at 4.12% / 4.135%               83% to hold on the week
    • 2nd weekly support at 4.175% / 4.19%    

Conference Call Friday, February 27, 2026, Featuring Jim Bianco 

Click Here to Register

Intraday Commentary From Jim Bianco

This morning IGV (the $12B iShares Software ETF) gapped lower than its February 5 “panic” low, which caused the tidal wave of retail “buy the dip” money.

Now down 34% since its October high. Side note, “programmable money,” otherwise known as Bitcoin, peaked at the same time and has been tracking software stocks lower.

And the biggest name in Software, Salesforce (CRM) also gapped lower today and is not down more than 50% from its December 2024 peak.

The cost of software development is collapsing to zero.

That means the $ billion companies like Salesforce (and Bloomberg) have spent, and the millions of developer man-hours spent developing their software products, can be recreated from scratch for a tiny fraction of the cost. This is going to spawn dozens, if not hundreds, of low-priced competitors. Salesforce (and Bloomberg) need their expensive “per seat” pricing models to offset these costs.

In the News 

CNBC: IBM is the latest AI casualty. Shares are tanking 11% on Athropic programming language threat 

ZeroHedge: PayPal Shares Jump On Report Of Takeover Interest

eia: Retirement delays of U.S. electric generating capacity may continue in 2026

Redfin: It’s a Buyer’s Market: America Has 44% More Home Sellers Than Buyer – a Near Record Gap

X: Nightingale Associates:

Upcoming US Treasury Supply

Tentative Schedule of Treasury Buyback Operations

Upcoming Economic Releases & Fed Speak 

 

Noteworthy After-the-Close Earnings Releases

22333 Classic Ct.
Lake Barrington, IL 60010
+1 (800) 606-1872
+1 (847) 756-3535 (International)

info@arborresearch.com
BrokerCheck Profile

PRODUCTS

Bianco Research
Arbor Data Science
Arbor Quantitative Analytics
The King Report
Talking Data Podcast

SUBSCRIPTION

Free Trial
Contact Us
Log In

LEGAL

Business Continuity Plan
Privacy Policy
Cookie Policy
Terms and Conditions

© 2026 Arbor Research & Trading, LLC. All rights reserved. This material is for your private information, we are not soliciting any action based upon it. This material should not be redistributed or replicated in any form without the prior consent of Arbor Research & Trading, LLC. The material is based upon information that we consider reliable, but we do not represent that it is accurate or complete, and it should not be relied upon as such.