Saudi Arabia’s coalition provides air support and targeting assistance for Yemeni government forces conducting Operation Dawn of Yemen, launched in early October 2026 to reverse Houthi gains around the Bab al-Mandeb Strait and Taiz governorate. Ground fighting remains concentrated in southern and western Yemen, with reported advances in Dhubab and Mocha districts but no verified movement of Saudi regular troops toward the Houthi-held capital. Sanaa-based forces continue missile and drone strikes on Saudi targets, including airports in Riyadh and the southwest, while claiming to repel coalition-backed reinforcements. Direct entry by Saudi armed forces into Sanaa’s districts would represent a significant escalation beyond current air operations and proxy ground efforts, consistent with the market’s low implied probabilities through year-end. Scheduled developments include ongoing coalition airstrikes and potential further Houthi cross-border attacks.