Bloomberg Surveillance Bloomberg Surveillance TV: February 20th, 2026
10 snips
Feb 20, 2026 
Jitania Kandhari, Morgan Stanley MD and deputy CIO, on how Middle East tensions, oil shocks and regional supply chains could sway markets and inflation. Alicia Reese, Wedbush SVP in equity research, on the Netflix–Warner talks, theatrical windowing and streaming advertising opportunities. Steven Cook, CFR senior fellow, on Iran, likely retaliation, regional military moves and diplomatic signaling.
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Episode notes
Strike Risks And Credibility
- Steven Cook warns a U.S. strike on Iran risks a broader regional war if it fails to achieve clear objectives.
- He says deterrence requires credible use of force or credibility is lost and partners become vulnerable.
Likely Iranian Retaliation
- Cook expects Iran to use remaining ballistic missiles to strike Israel and regional partners as likely retaliation.
- He notes Iran is limited versus the U.S., so attacks will focus on regional targets like Tel Aviv.
U.S.–Israel Military Coordination
- Cook describes deep coordination between the U.S. and Israel with U.S. carriers augmenting Israel's air defenses.
- He says regional partners quietly provide base access despite public reluctance to join strikes.