diff --git a/NEWS.md b/NEWS.md
index 7f79ffede..4e3d5c8fa 100644
--- a/NEWS.md
+++ b/NEWS.md
@@ -1,3 +1,10 @@
+# Version ?
+
+## Build system changes
+
+* The bundled `fmt` library was updated to v11.0.1.
+
+
 # Version 86.0 "Winter" 2024-07-13
 
 ## New features and enhancements
diff --git a/lib/fmt b/lib/fmt
index e69e5f977..b50e685db 160000
--- a/lib/fmt
+++ b/lib/fmt
@@ -1 +1 @@
-Subproject commit e69e5f977d458f2650bb346dadf2ad30c5320281
+Subproject commit b50e685db996c167e6c831dcef582aba6e14276a