US military actions in Latin America during 2026 have centered on targeted counter-narcotics operations, including vessel strikes under the Southern Spear initiative and joint efforts with partner governments in Colombia, Ecuador, and elsewhere through the Americas Counter-Cartel Coalition. The January capture of Venezuelan leader Nicolás Maduro via Operation Absolute Resolve marked the year's primary direct intervention, after which administration priorities shifted toward sanctions, naval pressure on Cuba, and coordination with newly aligned regional governments rather than additional ground invasions. Ongoing commitments in the Middle East have further constrained large-scale deployments, while officials emphasize rapid, limited actions over sustained occupations. These developments underpin the market's strong consensus against a new invasion before year-end.